Entropy Technologies LP Buys New Shares in Maplebear Inc. (NASDAQ:CART)

Entropy Technologies LP purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,700 shares of the company’s stock, valued at approximately $232,000.

Several other large investors have also made changes to their positions in CART. Sculptor Capital LP bought a new stake in Maplebear during the 2nd quarter valued at approximately $77,361,000. Federated Hermes Inc. raised its position in shares of Maplebear by 102.2% during the second quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock valued at $55,739,000 after buying an additional 876,439 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Maplebear in the second quarter worth $22,816,000. Delta Global Management LP bought a new position in shares of Maplebear during the first quarter worth $25,722,000. Finally, Bank of New York Mellon Corp grew its stake in Maplebear by 936.7% during the second quarter. Bank of New York Mellon Corp now owns 489,761 shares of the company’s stock valued at $15,741,000 after acquiring an additional 442,517 shares in the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Fidji Simo sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the transaction, the chief executive officer now owns 1,844,778 shares of the company’s stock, valued at approximately $65,065,320.06. This trade represents a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Morgan Fong sold 10,992 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $41.38, for a total transaction of $454,848.96. Following the completion of the sale, the general counsel now directly owns 298,984 shares of the company’s stock, valued at $12,371,957.92. The trade was a 3.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,710 shares of company stock valued at $4,978,164 in the last ninety days. Corporate insiders own 36.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Barclays increased their price target on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America lifted their price objective on Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a research report on Wednesday. Finally, Raymond James assumed coverage on shares of Maplebear in a research report on Tuesday, September 24th. They issued a “market perform” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Maplebear presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.29.

Maplebear Price Performance

CART stock opened at $42.00 on Friday. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $50.01. The firm’s 50-day moving average is $42.17 and its 200 day moving average is $36.62. The company has a market capitalization of $10.95 billion, a PE ratio of 28.19, a P/E/G ratio of 1.30 and a beta of 1.12.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. The business had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.32%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company posted ($20.86) earnings per share. Sell-side analysts forecast that Maplebear Inc. will post 1.2 EPS for the current fiscal year.

Maplebear Company Profile

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.