State of Wyoming Takes Position in Maplebear Inc. $CART

State of Wyoming bought a new position in shares of Maplebear Inc. (NASDAQ:CART) in the 2nd quarter, Holdings Channel reports. The fund bought 14,618 shares of the company’s stock, valued at approximately $692,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CART. Pinnacle Bancorp Inc. acquired a new position in Maplebear in the 1st quarter valued at about $25,000. PenderFund Capital Management Ltd. acquired a new stake in Maplebear during the 4th quarter worth approximately $27,000. Allworth Financial LP lifted its position in Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after acquiring an additional 244 shares during the period. IFP Advisors Inc grew its stake in shares of Maplebear by 761.3% in the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after purchasing an additional 845 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its stake in shares of Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after purchasing an additional 787 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of Maplebear stock opened at $48.88 on Monday. Maplebear Inc. has a 12-month low of $32.73 and a 12-month high of $51.06. The stock has a market cap of $11.32 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78. The company has a 50-day moving average of $45.81 and a two-hundred day moving average of $41.26.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Maplebear had a net margin of 11.97% and a return on equity of 20.19%. Maplebear’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. On average, sell-side analysts forecast that Maplebear Inc. will post 2.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Cantor Fitzgerald upped their price target on Maplebear from $56.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. BNP Paribas Exane raised Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price target for the company in a report on Friday, August 7th. Citigroup lifted their price objective on shares of Maplebear from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Guggenheim boosted their price objective on shares of Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and a consensus price target of $55.90.

Insiders Place Their Bets

In related news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the transaction, the director directly owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This trade represents a 19.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 24.00% of the stock is owned by insiders.

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.