Fieldview Capital Management LLC Takes Position in Maplebear Inc. $CART

Fieldview Capital Management LLC bought a new stake in Maplebear Inc. (NASDAQ:CART) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,740 shares of the company’s stock, valued at approximately $1,068,000.

A number of other hedge funds have also modified their holdings of the business. 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. Smartleaf Asset Management LLC raised its position in shares of Maplebear by 9.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock valued at $134,000 after buying an additional 261 shares during the last quarter. Rafferty Asset Management LLC raised its position in shares of Maplebear by 2.5% in the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock valued at $498,000 after buying an additional 273 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Maplebear by 5.0% in the third quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock valued at $236,000 after buying an additional 304 shares during the last quarter. Finally, 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. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Price Performance

Shares of CART stock opened at $41.24 on Monday. The firm has a market cap of $9.69 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 0.57 and a beta of 0.88. The company has a 50-day moving average of $40.98 and a two-hundred day moving average of $40.27. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50.

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

Insider Activity at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of the firm’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 value of $7,513,310.00. Following the completion of the transaction, the director owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm’s stock in a transaction that occurred 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 directly owned 58,971 shares of the company’s stock, valued at approximately $2,373,582.75. The trade was a 13.74% decrease in their position. 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. Company insiders own 24.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Maplebear in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wells Fargo & Company raised their price objective 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. Argus upgraded shares of Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Finally, Barclays raised their price objective on shares of Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and an average target price of $51.09.

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.