Los Angeles Capital Management LLC Has $11.40 Million Stake in Maplebear Inc. $CART

by · The Cerbat Gem

Los Angeles Capital Management LLC decreased its stake in Maplebear Inc. (NASDAQ:CART – Free Report) by 31.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 253,395 shares of the company’s stock after selling 115,072 shares during the period. Los Angeles Capital Management LLC’s holdings in Maplebear were worth $11,398,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp boosted its stake in Maplebear by 1.3% in the 2nd quarter. State Street Corp now owns 5,101,870 shares of the company’s stock valued at $230,809,000 after buying an additional 66,588 shares in the last quarter. Viking Global Investors LP acquired a new stake in Maplebear in the 2nd quarter valued at $169,782,000. Geode Capital Management LLC boosted its stake in Maplebear by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company’s stock valued at $158,640,000 after buying an additional 54,010 shares in the last quarter. Bank of America Corp DE boosted its stake in Maplebear by 75.9% in the 3rd quarter. Bank of America Corp DE now owns 3,036,736 shares of the company’s stock valued at $111,630,000 after buying an additional 1,310,392 shares in the last quarter. Finally, Holocene Advisors LP acquired a new stake in Maplebear in the 3rd quarter valued at $90,167,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Up 2.8%

CART stock opened at $42.43 on Tuesday. The company has a market cap of $9.97 billion, a P/E ratio of 23.70, a PEG ratio of 0.57 and a beta of 0.88. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50. The business has a fifty day moving average of $40.63 and a 200-day moving average of $40.23.

Maplebear (NASDAQ:CART – Get Free Report) last released 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). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The company’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. As a group, equities research analysts anticipate that Maplebear Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Transactions at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction 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 sale, the director owned 741,523 shares in the company, valued at $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the sale, the chief accounting officer owned 58,971 shares of the company’s stock, valued at approximately $2,373,582.75. The trade was a 13.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 325,863 shares of company stock worth $12,931,445 over the last 90 days. 24.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings upgraded Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Argus upgraded Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Benchmark cut their price objective on Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Wall Street Zen downgraded Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Wells Fargo & Company lifted their price objective on Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and a consensus target price of $51.09.

View Our Latest Report on CART

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.

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