Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in Maplebear Inc. $CART

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Maplebear Inc. (NASDAQ:CART – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor purchased 173,810 shares of the company’s stock, valued at approximately $8,230,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new position in shares of Maplebear during the first quarter worth about $25,000. PenderFund Capital Management Ltd. acquired a new position in Maplebear during the 4th quarter worth approximately $27,000. Allworth Financial LP grew its stake 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 acquiring an additional 244 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Maplebear by 761.3% during the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after acquiring an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in shares of Maplebear by 212.7% in the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after purchasing an additional 787 shares during the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Get Maplebear alerts:

Maplebear Trading Down 2.4%

NASDAQ CART opened at $49.83 on Friday. The firm’s fifty day moving average price is $46.61 and its two-hundred day moving average price is $41.66. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $51.81. The firm has a market capitalization of $11.54 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 0.75 and a beta of 0.78.

Maplebear (NASDAQ:CART – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. On average, research analysts anticipate that Maplebear Inc. will post 2.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on CART shares. Guggenheim increased their target price on shares of Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Cantor Fitzgerald boosted their price target on shares of Maplebear from $56.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of Maplebear in a report on Friday, August 7th. Finally, Needham & Company LLC lifted their target price on Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and an average target price of $55.90.

Read Our Latest Report on Maplebear

Insider Buying and Selling

In related news, Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction dated 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 in the company, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 24.00% of the company’s stock.

About Maplebear

(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.

Featured Articles

• Five stocks we like better than Maplebear
• Blueprint for a Boom: SEC Clears the Crypto Runway
• Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss
• Advance Auto Parts Plunged, But Its Turnaround Is Still Working
• Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?

Want to see what other hedge funds are holding CART? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maplebear Inc. (NASDAQ:CART – Free Report).

Receive News & Ratings for Maplebear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maplebear and related companies with MarketBeat.com's FREE daily email newsletter.