Marshall Wace LLP Boosts Holdings in Maplebear Inc. (NASDAQ:CART)

Marshall Wace LLP lifted its holdings in Maplebear Inc. (NASDAQ:CART) by 34.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 726,582 shares of the company’s stock after purchasing an additional 184,569 shares during the period. Marshall Wace LLP’s holdings in Maplebear were worth $23,352,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in shares of Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after acquiring an additional 620 shares in the last quarter. Treasurer of the State of North Carolina purchased a new position in Maplebear in the fourth quarter valued at $218,000. Honeycomb Asset Management LP acquired a new position in Maplebear during the 4th quarter worth $3,520,000. Cantor Fitzgerald L. P. increased its holdings in Maplebear by 389.5% during the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in Maplebear in the 4th quarter valued at about $587,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Maplebear

In related 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 value of $91,962.52. Following the sale, the chief accounting officer now directly owns 107,910 shares in the company, valued at $3,779,008.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Maplebear news, General Counsel Morgan Fong sold 9,506 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $332,900.12. Following the transaction, the general counsel now directly 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 at this link. Also, CAO Alan Ramsay sold 2,626 shares of Maplebear 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 sale, 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. In the last three months, insiders sold 67,655 shares of company stock valued at $2,504,824. Corporate insiders own 36.00% of the company’s stock.

Analyst Upgrades and Downgrades

CART has been the topic of a number of recent research reports. Macquarie upped their target price on shares of Maplebear from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Bank of America lifted their price objective on shares of Maplebear from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday. BMO Capital Markets increased their target price on Maplebear from $36.00 to $39.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Wolfe Research began coverage on Maplebear in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Maplebear in a research report on Monday. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Maplebear Price Performance

Shares of CART opened at $39.46 on Friday. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $42.58. The company’s fifty day moving average is $35.03 and its two-hundred day moving average is $34.84.

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

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.