Quarry LP Increases Stock Position in Maplebear Inc. (NASDAQ:CART)

Quarry LP grew its stake in shares of Maplebear Inc. (NASDAQ:CART) by 269.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,928 shares of the company’s stock after buying an additional 2,865 shares during the period. Quarry LP’s holdings in Maplebear were worth $126,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Sculptor Capital LP purchased a new stake in Maplebear during the 2nd quarter worth $77,361,000. Federated Hermes Inc. boosted its position in Maplebear by 102.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock worth $55,739,000 after purchasing an additional 876,439 shares during the period. Industry Ventures L.L.C. boosted its position in Maplebear by 3.3% during the 2nd quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock worth $31,512,000 after purchasing an additional 31,175 shares during the period. SG Americas Securities LLC purchased a new stake in Maplebear during the 1st quarter worth $31,109,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Maplebear during the 1st quarter worth $28,674,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Trading Down 0.7 %

CART opened at $40.45 on Wednesday. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $42.58. The company’s 50-day moving average price is $35.43 and its 200 day moving average price is $34.97.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CART. BMO Capital Markets upped their price target on shares of Maplebear from $36.00 to $39.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Macquarie upped their price objective on shares of Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Raymond James began coverage on shares of Maplebear in a research report on Tuesday, September 24th. They issued a “market perform” rating for the company. Citigroup upped their price objective on shares of Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, KeyCorp began coverage on shares of Maplebear in a research report on Thursday, July 11th. They issued a “sector weight” rating for the company. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Maplebear presently has a consensus rating of “Moderate Buy” and an average target price of $43.33.

Insider Buying and Selling at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,626 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total value of $91,962.52. Following the sale, the chief accounting officer now owns 107,910 shares in the company, valued at $3,779,008.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Maplebear news, General Counsel Morgan Fong sold 9,506 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total value of $332,900.12. Following the sale, the general counsel now owns 372,335 shares in the company, valued at $13,039,171.70. 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 2,626 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $91,962.52. Following the completion of the transaction, the chief accounting officer now owns 107,910 shares of the company’s stock, valued at $3,779,008.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,655 shares of company stock worth $2,504,824. 36.00% of the stock is owned by company insiders.

Maplebear Company 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.