Stevens Capital Management LP Purchases New Shares in Maplebear Inc. $CART

Stevens Capital Management LP acquired a new stake in shares of Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,462 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC lifted its position in shares of Maplebear by 35.1% during the first quarter. CWM LLC now owns 1,058 shares of the company’s stock valued at $42,000 after purchasing an additional 275 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Maplebear by 1.5% in the 1st quarter. Allianz Asset Management GmbH now owns 148,352 shares of the company’s stock valued at $5,918,000 after buying an additional 2,195 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Maplebear during the 1st quarter worth approximately $1,955,000. KLP Kapitalforvaltning AS boosted its stake in shares of Maplebear by 42.9% in the 1st quarter. KLP Kapitalforvaltning AS now owns 27,300 shares of the company’s stock worth $1,089,000 after buying an additional 8,200 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Maplebear by 333.5% in the 1st quarter. Cetera Investment Advisers now owns 35,305 shares of the company’s stock worth $1,408,000 after buying an additional 27,161 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Analysts Set New Price Targets

CART has been the topic of a number of recent analyst reports. Bank of America lifted their price target on Maplebear from $53.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Mizuho initiated coverage on Maplebear in a research report on Tuesday, September 30th. They set a “neutral” rating and a $45.00 target price for the company. Guggenheim started coverage on shares of Maplebear in a report on Wednesday, October 15th. They issued a “neutral” rating and a $40.00 price target on the stock. Citigroup reduced their price target on shares of Maplebear from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, Barclays lifted their price objective on shares of Maplebear from $61.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned 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, the company has an average rating of “Moderate Buy” and an average target price of $51.40.

Insider Activity

In related news, CEO Chris Rogers sold 9,259 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 739,880 shares in the company, valued at approximately $31,348,715.60. This represents a 1.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Morgan Fong sold 3,546 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $38.85, for a total transaction of $137,762.10. Following the completion of the transaction, the general counsel directly owned 427,523 shares of the company’s stock, valued at approximately $16,609,268.55. This trade represents a 0.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,556 shares of company stock valued at $1,179,482 over the last quarter. Company insiders own 26.00% of the company’s stock.

Maplebear Stock Performance

CART stock opened at $40.19 on Monday. The stock has a fifty day moving average of $39.61 and a 200-day moving average of $43.81. Maplebear Inc. has a fifty-two week low of $34.78 and a fifty-two week high of $53.50. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.31 and a beta of 1.10.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $933.76 million. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. Equities analysts predict that Maplebear Inc. will post 1.43 EPS 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.