HS Management Partners LLC Sells 280,800 Shares of Maplebear Inc. $CART

HS Management Partners LLC cut its holdings in Maplebear Inc. (NASDAQ:CART) by 45.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 338,100 shares of the company’s stock after selling 280,800 shares during the period. Maplebear makes up about 3.2% of HS Management Partners LLC’s portfolio, making the stock its 15th biggest holding. HS Management Partners LLC’s holdings in Maplebear were worth $15,208,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its stake in shares of Maplebear by 78.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after purchasing an additional 389 shares during the period. Allworth Financial LP boosted its stake in shares of Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after purchasing an additional 244 shares during the period. IFP Advisors Inc boosted its stake in shares of Maplebear by 761.3% during the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after purchasing an additional 845 shares during the period. Sunbelt Securities Inc. boosted its stake in shares of Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after purchasing an additional 787 shares during the period. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Maplebear during the 3rd quarter worth about $43,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Maplebear news, General Counsel Morgan Fong sold 126,083 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the completion of the sale, the general counsel directly owned 386,643 shares of the company’s stock, valued at $14,340,588.87. The trade was a 24.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the sale, the chief accounting officer directly owned 58,971 shares of the company’s stock, valued at approximately $2,373,582.75. This trade represents a 13.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 144,863 shares of company stock valued at $5,418,135. 24.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CART shares. Barclays lifted their price target on shares of Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Jefferies Financial Group raised shares of Maplebear from a “hold” rating to a “buy” rating and lifted their price target for the stock from $38.00 to $45.00 in a research note on Monday, March 30th. Wells Fargo & Company lifted their price target on shares of Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Benchmark dropped their price target on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Maplebear in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.09.

Maplebear Price Performance

Maplebear stock opened at $41.22 on Friday. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 0.57 and a beta of 0.96. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $53.50. The firm has a 50-day moving average of $39.85 and a two-hundred day moving average of $40.03.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. Maplebear’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. Research analysts expect that Maplebear Inc. will post 2.43 earnings per share for the current year.

Maplebear Profile

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.