Rip Road Capital Partners LP Purchases 13,700 Shares of Maplebear Inc. (NASDAQ:CART)

Rip Road Capital Partners LP boosted its position in shares of Maplebear Inc. (NASDAQ:CART) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,793 shares of the company’s stock after buying an additional 13,700 shares during the period. Maplebear makes up approximately 4.7% of Rip Road Capital Partners LP’s investment portfolio, making the stock its 12th largest position. Rip Road Capital Partners LP’s holdings in Maplebear were worth $5,583,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CART. Jones Financial Companies Lllp lifted its holdings in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares during the period. Allworth Financial LP raised its position in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after purchasing an additional 717 shares during the last quarter. Anderson Financial Strategies LLC bought a new stake in Maplebear during the fourth quarter worth $46,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Maplebear in the 4th quarter valued at $62,000. 63.09% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, General Counsel Morgan Fong sold 5,249 shares of the business’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the transaction, the general counsel now owns 484,292 shares in the company, valued at $20,616,310.44. The trade was a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fidji Simo sold 2,033 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the transaction, the chief executive officer now directly owns 1,654,559 shares in the company, valued at approximately $66,182,360. This represents a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,165 shares of company stock worth $1,541,785. Company insiders own 26.00% of the company’s stock.

Maplebear Stock Performance

Maplebear stock opened at $45.21 on Thursday. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The firm has a 50 day moving average price of $40.90 and a two-hundred day moving average price of $43.54.

Maplebear (NASDAQ:CART) last announced its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Maplebear’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 EPS. As a group, equities research analysts predict that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on CART. Benchmark reissued a “hold” rating on shares of Maplebear in a report on Wednesday, February 26th. Macquarie reissued an “outperform” rating and set a $55.00 target price on shares of Maplebear in a research note on Tuesday, May 6th. Barclays increased their target price on shares of Maplebear from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Mizuho decreased their price target on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, BMO Capital Markets increased their price objective on shares of Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.04.

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.