Portside Wealth Group LLC Buys Shares of 4,809 Maplebear Inc. $CART

Portside Wealth Group LLC purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,809 shares of the company’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. William Blair Investment Management LLC purchased a new position in Maplebear in the second quarter valued at about $151,364,000. Boston Partners lifted its holdings in shares of Maplebear by 93.3% during the 2nd quarter. Boston Partners now owns 3,961,838 shares of the company’s stock valued at $179,261,000 after buying an additional 1,911,771 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of Maplebear during the 1st quarter valued at about $52,333,000. Westfield Capital Management Co. LP bought a new stake in shares of Maplebear in the 1st quarter valued at approximately $48,639,000. Finally, Invesco Ltd. increased its holdings in Maplebear by 82.5% in the first quarter. Invesco Ltd. now owns 2,575,624 shares of the company’s stock worth $102,742,000 after buying an additional 1,164,702 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Maplebear

In related news, CEO Chris Rogers sold 9,259 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $42.37, for a total transaction of $392,303.83. Following the transaction, the chief executive officer owned 739,880 shares of the company’s stock, 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 legal filing with the SEC, which is available through this hyperlink. Also, Director Fidji Simo sold 1,014 shares of the company’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $40.00, for a total transaction of $40,560.00. Following the transaction, 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 quarter, insiders have sold 27,556 shares of company stock worth $1,179,482. Insiders own 26.00% of the company’s stock.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $40.14 on Friday. The stock’s 50-day moving average is $39.74 and its 200-day moving average is $43.88. The company has a market cap of $10.54 billion, a P/E ratio of 22.06, a P/E/G ratio of 1.36 and a beta of 1.10. Maplebear Inc. has a 52-week low of $34.78 and a 52-week high of $53.50.

Maplebear (NASDAQ:CART) last announced its earnings results on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $939.00 million during the quarter, compared to the consensus estimate of $933.76 million. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. As a group, equities analysts predict that Maplebear Inc. will post 1.43 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on CART shares. JPMorgan Chase & Co. decreased their target price on shares of Maplebear from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Jefferies Financial Group reduced their price objective on shares of Maplebear from $55.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, October 17th. Bank of America increased their target price on shares of Maplebear from $53.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Needham & Company LLC reduced their price target on Maplebear from $66.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, Barclays upped their price target on Maplebear from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Maplebear presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.40.

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.