Caitlin John LLC Purchases Shares of 13,598 Maplebear Inc. $CART

Caitlin John LLC purchased a new position in shares of Maplebear Inc. (NASDAQ:CART) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,598 shares of the company’s stock, valued at approximately $644,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CART. Pinnacle Bancorp Inc. bought a new position in shares of Maplebear during the 1st quarter valued at about $25,000. PenderFund Capital Management Ltd. bought a new stake in Maplebear in the 4th quarter worth approximately $27,000. Allworth Financial LP lifted its position in Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after buying an additional 244 shares during the last quarter. IFP Advisors Inc boosted its stake in Maplebear by 761.3% in the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after buying an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Maplebear by 212.7% in the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after buying an additional 787 shares in the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ravi Gupta sold 150,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were 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 directly owned 591,523 shares of the company’s stock, valued at approximately $29,936,979.03. This represents a 20.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Morgan Fong sold 18,390 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $49.96, for a total transaction of $918,764.40. Following the sale, the insider owned 529,911 shares of the company’s stock, valued at approximately $26,474,353.56. This represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 349,390 shares of company stock worth $16,023,574. Insiders own 24.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wedbush assumed coverage on shares of Maplebear in a research note on Thursday, July 16th. They set an “outperform” rating and a $59.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a research report on Friday, August 7th. Guggenheim boosted their price target on shares of Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Citigroup upped their price target on shares of Maplebear from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Benchmark raised their price objective on Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.90.

Maplebear Stock Performance

Shares of CART stock opened at $50.48 on Friday. The company has a market capitalization of $11.69 billion, a P/E ratio of 27.58, a PEG ratio of 0.75 and a beta of 0.78. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $52.05. The stock has a 50 day moving average price of $47.23 and a two-hundred day moving average price of $42.13.

Maplebear (NASDAQ:CART) last issued its earnings results 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 firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business posted $0.41 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities analysts predict that Maplebear Inc. will post 2.33 earnings per share 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.