Ballentine Partners LLC Acquires Shares of 13,508 Maplebear Inc. $CART

Ballentine Partners LLC acquired a new stake in Maplebear Inc. (NASDAQ:CART) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 13,508 shares of the company’s stock, valued at approximately $608,000.

A number of other large investors also recently modified their holdings of CART. Hantz Financial Services Inc. increased its position in shares of Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares during the last quarter. Allworth Financial LP increased its position in shares of Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after purchasing an additional 244 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Maplebear in the 3rd quarter valued at approximately $43,000. Sunbelt Securities Inc. increased its position 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. Finally, CWM LLC increased its position in shares of Maplebear by 42.2% in the 3rd quarter. CWM LLC now owns 1,634 shares of the company’s stock valued at $60,000 after purchasing an additional 485 shares during the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Maplebear

In other news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total value of $377,947.50. Following the completion of the sale, the chief accounting officer owned 58,971 shares in the company, valued at approximately $2,373,582.75. This trade represents a 13.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Morgan Fong sold 126,083 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the completion of the sale, the general counsel owned 386,643 shares of the company’s stock, valued at $14,340,588.87. This trade represents a 24.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 144,863 shares of company stock valued at $5,418,135 in the last 90 days. Company insiders own 24.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Stifel Nicolaus dropped their target price on shares of Maplebear from $49.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Maplebear in a research report on Thursday, May 7th. Raymond James Financial raised shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, BNP Paribas Exane assumed coverage on shares of Maplebear in a research report on Wednesday, January 14th. They issued an “underperform” rating and a $41.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.39.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $40.41 on Tuesday. The stock has a market cap of $9.50 billion, a P/E ratio of 22.58, a P/E/G ratio of 0.56 and a beta of 0.96. The firm has a fifty day moving average price of $39.37 and a 200 day moving average price of $39.92. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. Sell-side analysts expect that Maplebear Inc. will post 2.42 EPS for the current fiscal year.

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.