SC US Ttgp LTD. Has $1.05 Billion Stake in Maplebear Inc. $CART

SC US Ttgp LTD. trimmed its stake in Maplebear Inc. (NASDAQ:CARTFree Report) by 0.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,928,385 shares of the company’s stock after selling 66,882 shares during the period. Maplebear accounts for about 11.3% of SC US Ttgp LTD.’s investment portfolio, making the stock its 2nd biggest holding. SC US Ttgp LTD. owned about 11.88% of Maplebear worth $1,046,197,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. PenderFund Capital Management Ltd. bought a new position in Maplebear in the fourth quarter worth about $27,000. Pinnacle Bancorp Inc. bought a new stake in Maplebear during the 1st quarter valued at approximately $25,000. Allworth Financial LP boosted its position in Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares in the last quarter. IFP Advisors Inc boosted its position in Maplebear by 761.3% during the 4th 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 holdings in shares of 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 acquiring an additional 787 shares during the period. Institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the transaction, the director owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This trade represents a 19.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.00% of the stock is owned by insiders.

Maplebear Stock Performance

Shares of CART opened at $42.21 on Friday. The stock has a market cap of $9.92 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 0.58 and a beta of 0.75. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The firm’s 50-day simple moving average is $43.98 and its two-hundred day simple moving average is $40.64.

Maplebear (NASDAQ:CARTGet Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business posted $0.37 EPS. Maplebear’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities research analysts predict that Maplebear Inc. will post 2.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings raised Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen upgraded Maplebear from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price target on shares of Maplebear in a research note on Thursday, May 7th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $60.00 price target on shares of Maplebear in a research note on Monday, June 15th. Finally, Jefferies Financial Group upgraded Maplebear from a “hold” rating to a “buy” rating and increased their price objective for the stock from $38.00 to $45.00 in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and an average target price of $51.48.

View Our Latest Research Report on Maplebear

Maplebear Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Maplebear (NASDAQ:CART)

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