HS Management Partners LLC Has $6.95 Million Stock Position in Maplebear Inc. $CART

HS Management Partners LLC reduced its stake in Maplebear Inc. (NASDAQ:CART) by 45.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 185,559 shares of the company’s stock after selling 152,541 shares during the period. Maplebear makes up approximately 2.4% of HS Management Partners LLC’s holdings, making the stock its 19th largest holding. HS Management Partners LLC’s holdings in Maplebear were worth $6,951,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CART. Y Intercept Hong Kong Ltd bought a new position in shares of Maplebear during the 1st quarter worth approximately $1,210,000. Impact Partnership Wealth LLC acquired a new stake in Maplebear in the 1st quarter valued at $549,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Maplebear in the 1st quarter valued at $659,000. Pinnacle Bancorp Inc. bought a new stake in Maplebear in the first quarter valued at $25,000. Finally, Janney Montgomery Scott LLC grew its position in Maplebear by 2.2% in the first quarter. Janney Montgomery Scott LLC now owns 29,359 shares of the company’s stock valued at $1,100,000 after acquiring an additional 626 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Stock Performance

Shares of CART stock opened at $45.78 on Friday. The stock’s fifty day moving average is $42.33 and its 200-day moving average is $40.50. The stock has a market capitalization of $10.76 billion, a PE ratio of 25.58, a PEG ratio of 0.63 and a beta of 0.75. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $53.50.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $0.37 earnings per share. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, analysts forecast that Maplebear Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Transactions at Maplebear

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the sale, the director owned 741,523 shares in the company, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm’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 owned 58,971 shares of the company’s stock, valued at $2,373,582.75. The trade was a 13.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 24.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on CART shares. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Maplebear in a research note on Thursday, May 7th. Barclays boosted their target price on shares of Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Raymond James Financial raised shares of Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. Wall Street Zen cut shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.09.

Maplebear Company 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.