Sanctuary Advisors LLC Acquires Shares of 13,512 Maplebear Inc. $CART

Sanctuary Advisors LLC acquired a new position in Maplebear Inc. (NASDAQ:CART) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,512 shares of the company’s stock, valued at approximately $640,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. PenderFund Capital Management Ltd. purchased a new position in Maplebear in the 4th quarter worth about $27,000. Pinnacle Bancorp Inc. purchased a new stake in shares of Maplebear during the 1st quarter worth $25,000. Allworth Financial LP boosted its holdings in shares of Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after buying an additional 244 shares in the last quarter. IFP Advisors Inc boosted its stake in Maplebear by 761.3% in the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after acquiring an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its stake in Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after buying an additional 787 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Up 0.1%

CART stock opened at $50.54 on Friday. The stock has a market cap of $11.70 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 0.74 and a beta of 0.78. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $52.05. The business has a fifty day moving average of $47.35 and a two-hundred day moving average of $42.19.

Maplebear (NASDAQ:CART) last posted its earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company earned $0.41 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Maplebear Inc. will post 2.33 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays upped their price target on shares of Maplebear from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. upped their price target on Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. BNP Paribas Exane raised shares of Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price objective on the stock in a report on Friday, August 7th. Finally, Guggenheim lifted their price target on Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and a consensus price target of $55.90.

Insider Activity

In related news, Director Ravi Gupta sold 150,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the completion of the transaction, the director directly owned 591,523 shares of the company’s stock, valued at $29,936,979.03. The trade was a 20.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Morgan Fong sold 18,390 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $49.96, for a total transaction of $918,764.40. Following the sale, the insider owned 529,911 shares in the company, valued at $26,474,353.56. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 349,390 shares of company stock worth $16,023,574 in the last three months. Corporate insiders own 24.00% of the company’s stock.

Maplebear Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.