Impact Partnership Wealth LLC Takes Position in Maplebear Inc. $CART

Impact Partnership Wealth LLC bought a new position in Maplebear Inc. (NASDAQ:CART) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 14,658 shares of the company’s stock, valued at approximately $549,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Maplebear in the 1st quarter worth about $659,000. Pinnacle Bancorp Inc. purchased a new stake in Maplebear during the first quarter worth about $25,000. Janney Montgomery Scott LLC raised its position in Maplebear by 2.2% in the first quarter. Janney Montgomery Scott LLC now owns 29,359 shares of the company’s stock worth $1,100,000 after acquiring an additional 626 shares during the period. Pictet Asset Management Holding SA raised its position in Maplebear by 9.1% in the first quarter. Pictet Asset Management Holding SA now owns 27,203 shares of the company’s stock worth $1,019,000 after acquiring an additional 2,278 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in Maplebear by 280.2% in the first quarter. Sterling Capital Management LLC now owns 38,752 shares of the company’s stock valued at $1,452,000 after acquiring an additional 28,559 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Price Performance

NASDAQ:CART opened at $44.83 on Thursday. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $53.50. The stock’s fifty day moving average price is $42.22 and its two-hundred day moving average price is $40.46. The company has a market cap of $10.54 billion, a P/E ratio of 25.04, a P/E/G ratio of 0.65 and a beta of 0.74.

Maplebear (NASDAQ:CART) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. Maplebear’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. On average, analysts expect that Maplebear Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Maplebear

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm’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 completion of the transaction, the chief accounting officer directly owned 58,971 shares of the company’s stock, valued at $2,373,582.75. This trade represents a 13.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 business’s 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 transaction, the director owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This trade represents a 19.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 24.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Maplebear in a research note on Thursday, May 7th. Citizens Jmp reissued a “market outperform” rating and set a $60.00 price objective on shares of Maplebear in a report on Monday, June 15th. Barclays raised their target price on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Raymond James Financial upgraded Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and an average 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.