SG Americas Securities LLC Decreases Stake in Maplebear Inc. $CART

SG Americas Securities LLC lessened its position in shares of Maplebear Inc. (NASDAQ:CART) by 29.3% in the 1st quarter, HoldingsChannel reports. The fund owned 193,158 shares of the company’s stock after selling 80,221 shares during the period. SG Americas Securities LLC’s holdings in Maplebear were worth $7,236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PenderFund Capital Management Ltd. acquired a new stake in shares of Maplebear in the 4th quarter valued at $27,000. Allworth Financial LP lifted its position in shares of Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after purchasing an additional 244 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Maplebear by 761.3% during the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after purchasing an additional 845 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after purchasing an additional 787 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in Maplebear by 49.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,462 shares of the company’s stock valued at $66,000 after buying an additional 482 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $47.50 on Friday. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50. The firm has a market capitalization of $11.16 billion, a P/E ratio of 26.54, a P/E/G ratio of 0.65 and a beta of 0.88. The company’s fifty day moving average price is $41.98 and its 200 day moving average price is $40.45.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. On average, sell-side analysts anticipate that Maplebear Inc. will post 2.45 EPS for the current year.

Wall Street Analyst Weigh In

CART has been the topic of a number of analyst reports. Barclays raised their price target on Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Maplebear in a report on Thursday, May 7th. Citizens Jmp reissued a “market outperform” rating and set a $60.00 target price on shares of Maplebear in a research report on Monday, June 15th. Wall Street Zen lowered Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Raymond James Financial upgraded Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and two have given 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 $51.09.

Insider Activity

In other news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the sale, the director directly owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. The trade was a 19.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the transaction, the chief accounting officer owned 58,971 shares in the company, valued at $2,373,582.75. This represents a 13.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 24.00% of the stock is currently owned by insiders.

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.