Washington University Purchases New Stake in Maplebear Inc. (NASDAQ:CART)

Washington University acquired a new position in shares of Maplebear Inc. (NASDAQ:CART) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,839 shares of the company’s stock, valued at approximately $238,000. Maplebear accounts for approximately 0.2% of Washington University’s portfolio, making the stock its 4th largest position.

Several other large investors have also recently bought and sold shares of the business. Sculptor Capital LP purchased a new stake in shares of Maplebear during the 2nd quarter worth approximately $77,361,000. Federated Hermes Inc. increased its position in shares of Maplebear by 102.2% in the second quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock valued at $55,739,000 after buying an additional 876,439 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Maplebear in the first quarter valued at $31,109,000. Lord Abbett & CO. LLC acquired a new position in shares of Maplebear during the 1st quarter worth $28,674,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Maplebear in the 2nd quarter worth about $22,816,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Price Performance

NASDAQ CART opened at $44.78 on Friday. The business’s 50-day simple moving average is $40.04 and its 200-day simple moving average is $35.86. The firm has a market capitalization of $11.68 billion and a P/E ratio of -2.26. Maplebear Inc. has a 1-year low of $22.13 and a 1-year high of $45.75.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.07. The company had revenue of $823.00 million during the quarter, compared to analyst estimates of $806.35 million. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The business’s revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts expect that Maplebear Inc. will post 1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CART shares. Needham & Company LLC restated a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. Jefferies Financial Group began coverage on Maplebear in a research report on Wednesday, October 16th. They set a “hold” rating and a $43.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Maplebear in a research note on Monday, October 7th. KeyCorp assumed coverage on Maplebear in a research report on Thursday, July 11th. They set a “sector weight” rating for the company. Finally, Wedbush upped their price objective on Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.57.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $41.39, for a total transaction of $102,895.54. Following the sale, the chief accounting officer now owns 99,225 shares in the company, valued at $4,106,922.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $44.39, for a total transaction of $921,092.50. Following the completion of the sale, the chief executive officer now owns 1,803,278 shares in the company, valued at $80,047,510.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,486 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $41.39, for a total value of $102,895.54. Following the completion of the transaction, the chief accounting officer now directly owns 99,225 shares in the company, valued at approximately $4,106,922.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,457 shares of company stock worth $3,573,142 over the last quarter. 36.00% of the stock is owned by corporate insiders.

About Maplebear

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.