Maplebear Inc. $CART Shares Purchased by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC increased its stake in shares of Maplebear Inc. (NASDAQ:CART) by 132.3% during the 2nd quarter, Holdings Channel reports. The fund owned 47,932 shares of the company’s stock after purchasing an additional 27,297 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Maplebear were worth $2,168,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proathlete Wealth Management LLC acquired a new stake in Maplebear during the first quarter worth about $26,000. Brooklyn Investment Group acquired a new stake in Maplebear during the first quarter worth about $40,000. Spire Wealth Management purchased a new position in Maplebear during the first quarter worth approximately $41,000. CWM LLC boosted its position in Maplebear by 35.1% during the first quarter. CWM LLC now owns 1,058 shares of the company’s stock worth $42,000 after purchasing an additional 275 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its position in Maplebear by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company’s stock worth $43,000 after purchasing an additional 533 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Morgan Fong sold 4,680 shares of Maplebear stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $49.16, for a total transaction of $230,068.80. Following the transaction, the general counsel owned 452,000 shares in the company, valued at approximately $22,220,320. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Grosvenor L.P. Gcm sold 4,864,272 shares of Maplebear stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $47.75, for a total value of $232,268,988.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,972,134 shares of company stock valued at $237,530,070 in the last 90 days. 26.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CART. Morgan Stanley increased their price target on Maplebear from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Friday, August 15th. Robert W. Baird lowered their price target on Maplebear from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Fox Advisors upgraded Maplebear from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Piper Sandler downgraded Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research report on Friday, October 3rd. Finally, Needham & Company LLC increased their price target on Maplebear from $56.00 to $66.00 and gave the stock a “buy” rating in a research 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 issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.42.

Maplebear Price Performance

NASDAQ CART opened at $38.73 on Tuesday. The company has a market cap of $10.20 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10. The stock’s 50 day simple moving average is $43.67 and its 200-day simple moving average is $44.27. Maplebear Inc. has a 1-year low of $34.87 and a 1-year high of $53.50.

Maplebear (NASDAQ:CART) last released its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $914.00 million for the quarter, compared to the consensus estimate of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 earnings per share. On average, equities research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

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.