Creative Planning Buys 831 Shares of Maplebear Inc. (NASDAQ:CART)

Creative Planning boosted its stake in Maplebear Inc. (NASDAQ:CART) by 9.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,566 shares of the company’s stock after purchasing an additional 831 shares during the quarter. Creative Planning’s holdings in Maplebear were worth $307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CART. Sculptor Capital LP bought a new stake in Maplebear in the second quarter valued at about $77,361,000. Federated Hermes Inc. increased its holdings 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 worth $55,739,000 after acquiring an additional 876,439 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Maplebear in the first quarter worth about $31,109,000. Lord Abbett & CO. LLC bought a new stake in shares of Maplebear in the first quarter worth about $28,674,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Maplebear in the second quarter worth about $22,816,000. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $42.70 on Friday. The stock has a 50 day moving average price of $37.61 and a 200 day moving average price of $35.40. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $45.01. The stock has a market capitalization of $11.30 billion and a PE ratio of -2.16.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. The firm had revenue of $823.00 million during the quarter, compared to analysts’ expectations of $806.35 million. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, research analysts forecast that Maplebear Inc. will post 1.14 EPS for the current year.

Insider Transactions at Maplebear

In other news, CAO Alan Ramsay sold 2,626 shares of Maplebear stock in a transaction that occurred on Monday, July 22nd. The stock was 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 directly owns 107,910 shares in the company, valued at approximately $3,779,008.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, General Counsel Morgan Fong sold 9,506 shares of Maplebear stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total transaction of $332,900.12. Following the completion of the transaction, the general counsel now directly owns 372,335 shares in the company, valued at approximately $13,039,171.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Alan Ramsay sold 2,626 shares of Maplebear stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $91,962.52. Following the transaction, the chief accounting officer now owns 107,910 shares of the company’s stock, valued at $3,779,008.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,955 shares of company stock worth $2,480,317. 36.00% of the stock is owned by company insiders.

Analyst Ratings Changes

CART has been the subject of several recent analyst reports. Benchmark restated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Morgan Stanley lowered their price target on Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Tuesday, September 24th. Wolfe Research began coverage on Maplebear in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. KeyCorp began coverage on Maplebear in a report on Thursday, July 11th. They set a “sector weight” rating for the company. Finally, Citigroup increased their price objective on Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.10.

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.