Strategic Global Advisors LLC Takes Position in Maplebear Inc. $CART

Strategic Global Advisors LLC purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 115,809 shares of the company’s stock, valued at approximately $5,484,000. Strategic Global Advisors LLC owned approximately 0.05% of Maplebear at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CART. Royal Bank of Canada boosted its holdings in Maplebear by 51.2% in the first quarter. Royal Bank of Canada now owns 131,789 shares of the company’s stock worth $5,256,000 after purchasing an additional 44,642 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Maplebear by 71.6% during the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock worth $67,000 after purchasing an additional 698 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Maplebear by 358.5% during the first quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company’s stock worth $128,000 after purchasing an additional 2,502 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Maplebear by 17.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company’s stock worth $15,585,000 after buying an additional 57,879 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Maplebear in the 1st quarter worth about $268,000. 63.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CART. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Benchmark raised their target price on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Citigroup lifted their target price on Maplebear from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Wedbush assumed coverage on Maplebear in a report on Thursday, July 16th. They set an “outperform” rating and a $59.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and a consensus price target of $55.90.

Insider Activity at Maplebear

In other Maplebear news, Director Ravi Gupta sold 150,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the completion of the transaction, the director owned 591,523 shares in the company, valued at approximately $29,936,979.03. The trade was a 20.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Morgan Fong sold 18,390 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $49.96, for a total value of $918,764.40. Following the completion of the transaction, the insider directly owned 529,911 shares of the company’s stock, valued at approximately $26,474,353.56. The trade was a 3.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 349,390 shares of company stock worth $16,023,574. 24.00% of the stock is owned by insiders.

Maplebear Trading Down 1.4%

Shares of NASDAQ:CART opened at $50.77 on Thursday. The firm’s 50 day moving average is $47.11 and its two-hundred day moving average is $42.02. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $52.05. The firm has a market capitalization of $11.75 billion, a P/E ratio of 27.74, a PEG ratio of 0.76 and a beta of 0.78.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.09). Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The business’s quarterly revenue was up 14.1% on a year-over-year basis. Analysts predict that Maplebear Inc. will post 2.33 EPS for the current year.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.