Paralel Advisors LLC Invests $33.15 Million in Maplebear Inc. $CART

Paralel Advisors LLC acquired a new stake in Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 700,000 shares of the company’s stock, valued at approximately $33,145,000. Maplebear comprises 1.3% of Paralel Advisors LLC’s investment portfolio, making the stock its 16th largest position. Paralel Advisors LLC owned about 0.30% of Maplebear as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CART. BlackRock Inc. bought a new stake in shares of Maplebear in the second quarter valued at $750,477,000. State Street Corp boosted its position in Maplebear by 1.0% during the fourth quarter. State Street Corp now owns 5,461,637 shares of the company’s stock worth $245,664,000 after purchasing an additional 54,872 shares during the period. Dimensional Fund Advisors LP boosted its position in Maplebear by 31.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company’s stock worth $186,618,000 after purchasing an additional 1,189,287 shares during the period. Viking Global Investors LP purchased a new position in shares of Maplebear in the second quarter worth about $169,782,000. Finally, Geode Capital Management LLC increased its stake in shares of Maplebear by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company’s stock worth $158,640,000 after purchasing an additional 54,010 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CART. Benchmark upped their price target on shares of Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Guggenheim boosted their target price on shares of Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 7th. JPMorgan Chase & Co. increased their target price on Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $60.00 price target on shares of Maplebear in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.90.

Insider Transactions at Maplebear

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were 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 in the company, valued at $30,780,619.73. This represents a 19.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 24.00% of the stock is owned by corporate insiders.

Maplebear Stock Up 0.8%

Shares of CART opened at $51.07 on Friday. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $51.82. The stock has a market cap of $11.82 billion, a PE ratio of 27.91, a P/E/G ratio of 0.75 and a beta of 0.78. The business’s 50-day moving average price is $46.44 and its 200-day moving average price is $41.61.

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

Maplebear 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.