Maplebear Inc. $CART Shares Sold by Crestwood Capital Management L.P.

Crestwood Capital Management L.P. lessened its position in Maplebear Inc. (NASDAQ:CART) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289,896 shares of the company’s stock after selling 20,000 shares during the period. Maplebear comprises 8.3% of Crestwood Capital Management L.P.’s portfolio, making the stock its 7th largest holding. Crestwood Capital Management L.P. owned approximately 0.11% of Maplebear worth $13,040,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. raised its position in shares of Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after buying an additional 389 shares during the last quarter. Allworth Financial LP raised its position in shares of Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after buying an additional 244 shares during the last quarter. IFP Advisors Inc raised its position in shares of Maplebear by 761.3% in the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after buying an additional 845 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Maplebear by 212.7% in the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after buying an additional 787 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Maplebear in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

CART has been the subject of several research analyst reports. Argus raised shares of Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Benchmark dropped their price target on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Weiss Ratings raised shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wells Fargo & Company upped their price target on shares of Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.09.

Maplebear Stock Performance

Shares of CART stock opened at $41.26 on Monday. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50. The company has a 50 day moving average price of $40.51 and a 200 day moving average price of $40.23. The firm has a market capitalization of $9.70 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 0.57 and a beta of 0.88.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Maplebear’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, equities analysts forecast that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the sale, the director directly owned 741,523 shares in the company, valued at $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the transaction, the chief accounting officer owned 58,971 shares of the company’s stock, valued at $2,373,582.75. This trade represents a 13.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 325,863 shares of company stock worth $12,931,445 over the last ninety days. 24.00% of the stock is owned by company 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.