Epoch Investment Partners Inc. Sells 59,920 Shares of Maplebear Inc. $CART

Epoch Investment Partners Inc. lowered its stake in shares of Maplebear Inc. (NASDAQ:CART) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 811,958 shares of the company’s stock after selling 59,920 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Maplebear were worth $36,522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hantz Financial Services Inc. increased its position in Maplebear by 78.6% during the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after acquiring an additional 389 shares during the period. Allworth Financial LP increased its holdings in Maplebear by 35.7% in the 3rd 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 period. Abich Financial Wealth Management LLC bought a new stake in Maplebear in the 3rd quarter valued at $43,000. IFP Advisors Inc increased its holdings in Maplebear by 761.3% in the 4th 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 period. Finally, Sunbelt Securities Inc. increased its holdings in Maplebear by 212.7% in the 3rd 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 period. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

CART opened at $41.24 on Monday. The firm’s 50-day simple moving average is $40.98 and its 200-day simple moving average is $40.27. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 0.57 and a beta of 0.88.

Maplebear (NASDAQ:CART) last posted 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). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the company posted $0.37 EPS. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Insider Activity

In other news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company’s stock in a transaction dated 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 approximately $2,373,582.75. This represents a 13.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was 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 approximately $30,780,619.73. The trade was a 19.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 24.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CART has been the topic of several analyst reports. Weiss Ratings raised shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. 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. Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Argus raised shares of Maplebear to a “strong-buy” rating in a report on Thursday, March 5th. Finally, Barclays boosted their price target on shares of Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.09.

Maplebear Company 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.