Corient Private Wealth LLC Invests $912,000 in Maplebear Inc. $CART

Corient Private Wealth LLC acquired a new stake in Maplebear Inc. (NASDAQ:CART) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 20,422 shares of the company’s stock, valued at approximately $912,000.

Several other hedge funds have also added to or reduced their stakes in the business. Pacer Advisors Inc. grew its holdings in Maplebear by 43.6% during the 4th quarter. Pacer Advisors Inc. now owns 1,128,151 shares of the company’s stock worth $50,744,000 after acquiring an additional 342,283 shares during the last quarter. Compound Planning Inc. raised its position in Maplebear by 2.8% during the 4th quarter. Compound Planning Inc. now owns 19,347 shares of the company’s stock worth $870,000 after purchasing an additional 523 shares during the last quarter. Invesco Ltd. grew its position in shares of Maplebear by 11.2% in the 4th quarter. Invesco Ltd. now owns 1,777,389 shares of the company’s stock valued at $79,947,000 after buying an additional 179,459 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Maplebear during the fourth quarter worth about $1,206,000. Finally, Vident Advisory LLC acquired a new position in shares of Maplebear in the fourth quarter worth approximately $221,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Stock Up 2.1%

NASDAQ:CART opened at $45.78 on Friday. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50. The company has a fifty day moving average of $42.28 and a 200-day moving average of $40.46. The firm has a market capitalization of $10.76 billion, a P/E ratio of 25.58, a P/E/G ratio of 0.61 and a beta of 0.75.

Maplebear (NASDAQ:CART) last issued its earnings results 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). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The firm’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 earnings per share. On average, analysts anticipate that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Insider Transactions at Maplebear

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the completion of the sale, the chief accounting officer owned 58,971 shares of the company’s stock, valued at approximately $2,373,582.75. This trade represents a 13.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was 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 in the company, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 24.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Raymond James Financial upgraded Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. Barclays upped their price objective on shares of Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Maplebear in a research report on Thursday, May 7th. Weiss Ratings raised shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.09.

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.