HS Management Partners LLC Sells 152,541 Shares of Maplebear Inc. $CART

HS Management Partners LLC reduced its holdings in Maplebear Inc. (NASDAQ:CART) by 45.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 185,559 shares of the company’s stock after selling 152,541 shares during the quarter. Maplebear comprises 2.4% of HS Management Partners LLC’s portfolio, making the stock its 19th biggest holding. HS Management Partners LLC owned approximately 0.08% of Maplebear worth $6,951,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CART. Royal Bank of Canada boosted its stake in Maplebear by 51.2% during the 1st quarter. Royal Bank of Canada now owns 131,789 shares of the company’s stock valued at $5,256,000 after purchasing an additional 44,642 shares during the period. NewEdge Advisors LLC increased its position in Maplebear by 71.6% in the 1st quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock worth $67,000 after buying an additional 698 shares during the period. Jones Financial Companies Lllp increased its position in Maplebear by 358.5% in the 1st quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company’s stock worth $128,000 after buying an additional 2,502 shares during the period. Goldman Sachs Group Inc. increased its position in Maplebear by 17.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company’s stock worth $15,585,000 after buying an additional 57,879 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of Maplebear during the first quarter worth approximately $268,000. 63.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Maplebear

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total value of $377,947.50. Following the sale, the chief accounting officer owned 58,971 shares of the company’s stock, valued at $2,373,582.75. The trade was a 13.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 shares were sold at an average price of $41.51, for a total transaction 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 represents a 19.62% decrease in their position. The SEC filing for this sale provides additional information. 24.00% of the stock is owned by company insiders.

Maplebear Stock Performance

Shares of CART stock opened at $45.78 on Friday. The stock has a 50 day moving average of $42.33 and a two-hundred day moving average of $40.50. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50. The company has a market capitalization of $10.76 billion, a P/E ratio of 25.58, a P/E/G ratio of 0.63 and a beta of 0.75.

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 analysts’ consensus estimates of $0.58 by ($0.01). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Sell-side analysts predict that Maplebear Inc. will post 2.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CART has been the subject of several research reports. Citizens Jmp reissued a “market outperform” rating and issued a $60.00 price objective on shares of Maplebear in a research report on Monday, June 15th. Jefferies Financial Group raised shares of Maplebear from a “hold” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $45.00 in a research report on Monday, March 30th. Barclays upped their target price 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 reissued a “buy” rating and issued a $55.00 price target on shares of Maplebear in a 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 issued a Sell rating to the stock. According to MarketBeat.com, Maplebear currently has an average 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.