13,512 Shares in Maplebear Inc. $CART Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new stake in Maplebear Inc. (NASDAQ:CART) during the second quarter, Holdings Channel reports. The institutional investor bought 13,512 shares of the company’s stock, valued at approximately $640,000.

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

Maplebear Stock Up 0.1%

Shares of Maplebear stock opened at $50.54 on Friday. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $52.05. The business’s fifty day moving average is $47.35 and its two-hundred day moving average is $42.19. The firm has a market cap of $11.70 billion, a PE ratio of 27.62, a P/E/G ratio of 0.74 and a beta of 0.78.

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

Analyst Upgrades and Downgrades

CART has been the topic of several recent research reports. Citizens Jmp restated a “market outperform” rating and issued a $60.00 price objective on shares of Maplebear in a research report on Monday, June 15th. Wells Fargo & Company lifted their price objective on Maplebear from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Oppenheimer boosted their target price on shares of Maplebear from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Barclays upped their target price on shares of Maplebear from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, BNP Paribas Exane upgraded shares of Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price target for the company in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.90.

Insider Activity

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 owned 591,523 shares of the company’s stock, valued at $29,936,979.03. This represents a 20.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the insider owned 529,911 shares in the company, valued at approximately $26,474,353.56. The trade was 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. Insiders sold a total of 349,390 shares of company stock valued at $16,023,574 in the last 90 days. 24.00% of the stock is owned by company 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.