Westfield Capital Management Co. LP Has $67.06 Million Position in Maplebear Inc. $CART

Westfield Capital Management Co. LP increased its stake in Maplebear Inc. (NASDAQ:CART) by 21.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,482,228 shares of the company’s stock after acquiring an additional 262,908 shares during the quarter. Westfield Capital Management Co. LP owned about 0.56% of Maplebear worth $67,056,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CART. Vanguard Group Inc. lifted its stake in Maplebear by 3.4% in the first quarter. Vanguard Group Inc. now owns 16,514,830 shares of the company’s stock valued at $658,777,000 after buying an additional 546,472 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in Maplebear by 10.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,226,979 shares of the company’s stock valued at $208,505,000 after purchasing an additional 482,327 shares in the last quarter. Boston Partners increased its stake in Maplebear by 93.3% in the second quarter. Boston Partners now owns 3,961,838 shares of the company’s stock valued at $179,261,000 after purchasing an additional 1,911,771 shares in the last quarter. Altimeter Capital Management LP raised its holdings in shares of Maplebear by 31.9% during the first quarter. Altimeter Capital Management LP now owns 3,348,128 shares of the company’s stock valued at $133,557,000 after purchasing an additional 810,510 shares during the period. Finally, William Blair Investment Management LLC bought a new position in shares of Maplebear during the 2nd quarter worth about $151,364,000. 63.09% of the stock is owned by institutional investors.

Maplebear Price Performance

NASDAQ CART opened at $41.79 on Thursday. Maplebear Inc. has a 1 year low of $34.78 and a 1 year high of $53.50. The company has a market capitalization of $10.97 billion, a PE ratio of 22.58, a P/E/G ratio of 1.35 and a beta of 1.10. The company has a fifty day moving average of $39.85 and a 200 day moving average of $43.91.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The business had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $933.76 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CART. Wells Fargo & Company decreased their price objective on Maplebear from $57.00 to $47.00 and set an “equal weight” rating for the company in a report on Friday, October 3rd. JMP Securities upped their target price on shares of Maplebear from $55.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, August 8th. Guggenheim initiated coverage on Maplebear in a research note on Wednesday, October 15th. They issued a “neutral” rating and a $40.00 price objective for the company. BMO Capital Markets upgraded shares of Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a report on Tuesday, November 11th. Finally, Needham & Company LLC dropped their price target on Maplebear from $66.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.40.

Insider Activity

In related news, Director Fidji Simo sold 7,140 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.30, for a total transaction of $337,722.00. Following the sale, the director directly owned 573,807 shares of the company’s stock, valued at approximately $27,141,071.10. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Morgan Fong sold 3,546 shares of Maplebear stock in a transaction on Monday, October 20th. The shares were sold at an average price of $38.85, for a total transaction of $137,762.10. Following the completion of the transaction, the general counsel directly owned 427,523 shares of the company’s stock, valued at $16,609,268.55. The trade was a 0.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 27,556 shares of company stock valued at $1,179,482 in the last three months. 26.00% of the stock is currently owned by corporate insiders.

Maplebear Company Profile

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.