CenterBook Partners LP Purchases New Shares in Maplebear Inc. $CART

CenterBook Partners LP purchased a new position in Maplebear Inc. (NASDAQ:CART) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 50,059 shares of the company’s stock, valued at approximately $1,840,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CART. Hantz Financial Services Inc. boosted its holdings in shares of Maplebear by 78.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after buying an additional 389 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of Maplebear in the 3rd quarter worth about $43,000. Elevation Point Wealth Partners LLC purchased a new position in Maplebear during the 2nd quarter valued at about $53,000. CWM LLC lifted its position in Maplebear by 42.2% during the 3rd quarter. CWM LLC now owns 1,634 shares of the company’s stock valued at $60,000 after acquiring an additional 485 shares during the period. Finally, Huntington National Bank boosted its stake in Maplebear by 2,288.5% during the second quarter. Huntington National Bank now owns 1,457 shares of the company’s stock worth $66,000 after acquiring an additional 1,396 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CART shares. Fox Advisors downgraded shares of Maplebear from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Maplebear in a research report on Monday, December 29th. Needham & Company LLC boosted their target price on Maplebear from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Wall Street Zen raised Maplebear from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, Citigroup lowered their price target on Maplebear from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.38.

Maplebear Price Performance

Maplebear stock opened at $35.56 on Friday. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50. The business’s fifty day moving average is $40.51 and its 200 day moving average is $41.54. The stock has a market capitalization of $9.34 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 0.55 and a beta of 1.00.

Insider Activity

In other news, General Counsel Morgan Fong sold 4,914 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total transaction of $222,161.94. Following the completion of the transaction, the general counsel directly owned 404,940 shares of the company’s stock, valued at $18,307,337.40. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 26.00% of the stock is currently owned by insiders.

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.