Motley Fool Asset Management LLC Has $380,000 Stock Holdings in Maplebear Inc. $CART

Motley Fool Asset Management LLC grew its position in shares of Maplebear Inc. (NASDAQ:CART) by 11.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,396 shares of the company’s stock after purchasing an additional 863 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Maplebear were worth $380,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its stake in shares of Maplebear by 14.4% during the second quarter. Teacher Retirement System of Texas now owns 50,604 shares of the company’s stock valued at $2,289,000 after purchasing an additional 6,373 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Maplebear by 89.5% during the second quarter. Y Intercept Hong Kong Ltd now owns 22,948 shares of the company’s stock valued at $1,038,000 after purchasing an additional 10,840 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Maplebear by 11.5% during the second quarter. Envestnet Asset Management Inc. now owns 178,763 shares of the company’s stock valued at $8,087,000 after purchasing an additional 18,436 shares in the last quarter. Shaker Investments LLC OH acquired a new stake in shares of Maplebear during the second quarter valued at about $1,854,000. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of Maplebear by 10.2% during the second quarter. State of New Jersey Common Pension Fund D now owns 57,717 shares of the company’s stock valued at $2,611,000 after purchasing an additional 5,324 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CART. Robert W. Baird cut their price target on Maplebear from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. BTIG Research restated a “neutral” rating and set a $55.00 price objective on shares of Maplebear in a research report on Tuesday, September 30th. Sanford C. Bernstein raised their price objective on Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Barclays raised their price objective on Maplebear from $61.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, Morgan Stanley raised their price objective on Maplebear from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and a consensus price target of $52.12.

Insiders Place Their Bets

In other Maplebear news, CEO Chris Rogers sold 9,259 shares of Maplebear stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $42.37, for a total value of $392,303.83. Following the completion of the sale, the chief executive officer directly owned 739,880 shares in the company, valued at approximately $31,348,715.60. The trade was a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Fidji Simo sold 1,014 shares of Maplebear stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $40.00, for a total value of $40,560.00. Following the completion of the sale, the director owned 569,742 shares of the company’s stock, valued at approximately $22,789,680. The trade was a 0.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 27,556 shares of company stock worth $1,179,482. 26.00% of the stock is owned by corporate insiders.

Maplebear Stock Performance

Shares of CART stock opened at $37.82 on Wednesday. The company has a market cap of $9.96 billion, a P/E ratio of 21.86, a PEG ratio of 1.18 and a beta of 1.10. The stock has a 50 day simple moving average of $41.75 and a two-hundred day simple moving average of $44.28. Maplebear Inc. has a fifty-two week low of $34.87 and a fifty-two week high of $53.50.

Maplebear (NASDAQ:CART) last issued its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $914.00 million during 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 firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. On average, research analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

Maplebear 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.