Quantbot Technologies LP Makes New $3.26 Million Investment in Maplebear Inc. (NASDAQ:CART)

Quantbot Technologies LP bought a new position in shares of Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 101,488 shares of the company’s stock, valued at approximately $3,262,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Renaissance Capital LLC lifted its holdings in Maplebear by 4.3% during the first quarter. Renaissance Capital LLC now owns 14,692 shares of the company’s stock worth $548,000 after acquiring an additional 607 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Maplebear by 139.3% during the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after acquiring an additional 620 shares in the last quarter. nVerses Capital LLC lifted its holdings in Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after acquiring an additional 1,600 shares in the last quarter. Cantor Fitzgerald L. P. raised its stake in shares of Maplebear by 389.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after purchasing an additional 2,489 shares during the period. Finally, Great Valley Advisor Group Inc. raised its stake in shares of Maplebear by 32.1% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,300 shares of the company’s stock valued at $331,000 after purchasing an additional 2,500 shares during the period. 63.09% of the stock is currently owned by institutional investors.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $37.28 on Tuesday. Maplebear Inc. has a 12-month low of $22.13 and a 12-month high of $42.95. The business has a 50 day moving average of $34.23 and a 200-day moving average of $34.52.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. The company had revenue of $823.00 million during the quarter, compared to analysts’ expectations of $806.35 million. The company’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, analysts expect that Maplebear Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Macquarie lifted their price target on Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. BMO Capital Markets lifted their price target on Maplebear from $36.00 to $39.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Benchmark reissued a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Gordon Haskett raised Maplebear from a “hold” rating to a “buy” rating and lifted their price target for the company from $37.00 to $45.00 in a research note on Wednesday, June 5th. Finally, Wolfe Research assumed coverage on Maplebear in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.81.

Insider Transactions at Maplebear

In other news, CAO Alan Ramsay sold 2,550 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $33.86, for a total transaction of $86,343.00. Following the completion of the sale, the chief accounting officer now owns 110,536 shares in the company, valued at $3,742,748.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, General Counsel Morgan Fong sold 9,228 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $33.86, for a total value of $312,460.08. Following the completion of the sale, the general counsel now directly owns 381,841 shares in the company, valued at $12,929,136.26. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Alan Ramsay sold 2,550 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.86, for a total value of $86,343.00. Following the completion of the sale, the chief accounting officer now owns 110,536 shares of the company’s stock, valued at $3,742,748.96. The disclosure for this sale can be found here. Insiders sold a total of 66,110 shares of company stock worth $2,292,923 over the last quarter. Company insiders own 36.00% of the company’s stock.

Maplebear Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.