Hsbc Holdings PLC Makes New Investment in Maplebear Inc. $CART

Hsbc Holdings PLC acquired a new stake in Maplebear Inc. (NASDAQ:CART) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 19,433 shares of the company’s stock, valued at approximately $726,000.

Several other large investors also recently modified their holdings of the stock. Pinnacle Bancorp Inc. bought a new stake in shares of Maplebear during the 1st quarter worth about $25,000. PenderFund Capital Management Ltd. acquired a new position in Maplebear in the 4th quarter valued at about $27,000. Allworth Financial LP boosted its holdings in shares of Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after acquiring an additional 244 shares during the period. Sunbelt Securities Inc. boosted its holdings in shares of Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after acquiring an additional 787 shares during the period. Finally, IFP Advisors Inc boosted its holdings in shares of Maplebear by 761.3% during the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after acquiring an additional 845 shares during the period. 63.09% of the stock is owned by institutional investors.

Maplebear Stock Down 2.0%

Shares of NASDAQ:CART opened at $44.75 on Friday. Maplebear Inc. has a 12-month low of $32.73 and a 12-month high of $53.50. The company’s 50 day moving average price is $44.31 and its two-hundred day moving average price is $40.66. The firm has a market cap of $10.52 billion, a PE ratio of 25.00, a PEG ratio of 0.62 and a beta of 0.75.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. On average, research analysts expect that Maplebear Inc. will post 2.46 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CART shares. Citizens Jmp reiterated a “market outperform” rating and set a $60.00 target price on shares of Maplebear in a research note on Monday, June 15th. Wedbush started coverage on Maplebear in a research note on Thursday, July 16th. They issued an “outperform” rating and a $59.00 price target for the company. Weiss Ratings raised Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen upgraded Maplebear from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Wells Fargo & Company lifted their target price on Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and an average price target of $51.67.

Insider Buying and Selling at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the sale, the director directly owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This trade represents a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 24.00% of the stock is currently owned by corporate insiders.

Maplebear Company Profile

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.