Flatrock Wealth Partners LLC Makes New Investment in Maplebear Inc. $CART

Flatrock Wealth Partners LLC purchased a new position in shares of Maplebear Inc. (NASDAQ:CART) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 16,043 shares of the company’s stock, valued at approximately $601,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pinnacle Bancorp Inc. acquired a new position in Maplebear during the first quarter worth $25,000. PenderFund Capital Management Ltd. acquired a new stake in Maplebear in the 4th quarter valued at $27,000. Allworth Financial LP lifted its position in Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after buying an additional 244 shares in the last quarter. IFP Advisors Inc lifted its position in Maplebear by 761.3% during the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after buying an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in shares of Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after buying an additional 787 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CART has been the subject of several analyst reports. Raymond James Financial upgraded Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. Citizens Jmp reissued a “market outperform” rating and set a $60.00 price target on shares of Maplebear in a research report on Monday, June 15th. Wells Fargo & Company raised their price target on Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Weiss Ratings raised Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Barclays upped their price objective on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.09.

Maplebear Stock Up 1.5%

NASDAQ:CART opened at $48.08 on Wednesday. Maplebear Inc. has a 12-month low of $32.73 and a 12-month high of $53.50. The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 0.65 and a beta of 0.75. The stock’s 50 day moving average price is $42.54 and its two-hundred day moving average price is $40.50.

Maplebear (NASDAQ:CART) last posted its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm posted $0.37 earnings per share. The firm’s revenue was up 13.6% compared to the same quarter last year. Equities research analysts expect that Maplebear Inc. will post 2.45 EPS for the current year.

Insider Activity

In other news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction dated 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 sale, the director owned 741,523 shares in the company, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of Maplebear stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the sale, the chief accounting officer directly 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. 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. 24.00% of the stock is owned by corporate insiders.

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.