SRH Advisors LLC Takes Position in Maplebear Inc. $CART

SRH Advisors LLC acquired a new stake in Maplebear Inc. (NASDAQ:CART) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,350 shares of the company’s stock, valued at approximately $61,000.

Several other institutional investors and hedge funds have also modified their holdings of CART. GAMMA Investing LLC increased its stake in shares of Maplebear by 7,363.3% in the 1st quarter. GAMMA Investing LLC now owns 53,213 shares of the company’s stock valued at $2,123,000 after purchasing an additional 52,500 shares in the last quarter. Rhumbline Advisers grew its position in shares of Maplebear by 170.6% in the first quarter. Rhumbline Advisers now owns 433,254 shares of the company’s stock valued at $17,282,000 after purchasing an additional 273,161 shares in the last quarter. Congress Asset Management Co. purchased a new stake in shares of Maplebear in the first quarter valued at approximately $11,723,000. Gateway Investment Advisers LLC acquired a new position in Maplebear in the first quarter valued at approximately $501,000. Finally, UMB Bank n.a. lifted its holdings in Maplebear by 914.1% in the first quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock valued at $40,000 after acquiring an additional 905 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

CART has been the topic of a number of recent analyst reports. BTIG Research reiterated a “neutral” rating and issued a $55.00 price objective on shares of Maplebear in a report on Tuesday, September 30th. Fox Advisors raised Maplebear from a “hold” rating to a “strong-buy” rating in a research note on Friday. Stifel Nicolaus dropped their target price on Maplebear from $64.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Barclays increased their target price on Maplebear from $61.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Finally, Bank of America raised their price objective on Maplebear from $53.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.42.

Maplebear Trading Down 2.8%

Shares of CART opened at $38.18 on Monday. The stock’s 50 day moving average is $44.70 and its two-hundred day moving average is $44.33. Maplebear Inc. has a twelve month low of $34.87 and a twelve month high of $53.50. The firm has a market capitalization of $10.06 billion, a PE ratio of 22.07, a P/E/G ratio of 1.28 and a beta of 1.10.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 EPS. On average, sell-side analysts predict that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Buying and Selling at Maplebear

In other news, Director Fidji Simo sold 7,140 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.30, for a total transaction of $337,722.00. Following the sale, the director owned 573,807 shares of the company’s stock, valued at $27,141,071.10. The trade was a 1.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Morgan Fong sold 3,546 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $42.39, for a total value of $150,314.94. Following the sale, the general counsel directly owned 431,069 shares in the company, valued at $18,273,014.91. This trade represents a 0.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,986,367 shares of company stock worth $238,211,261. Corporate insiders own 26.00% of the company’s stock.

About Maplebear

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.