Generate Investment Management Ltd Has $27.57 Million Position in Maplebear Inc. $CART

Generate Investment Management Ltd increased its stake in shares of Maplebear Inc. (NASDAQ:CART) by 134.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 750,000 shares of the company’s stock after buying an additional 430,000 shares during the period. Maplebear accounts for about 1.4% of Generate Investment Management Ltd’s portfolio, making the stock its 22nd largest holding. Generate Investment Management Ltd owned 0.28% of Maplebear worth $27,570,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in CART. Elevation Point Wealth Partners LLC acquired a new position in shares of Maplebear during the second quarter worth $53,000. Fifth Third Bancorp boosted its holdings in Maplebear by 123.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,190 shares of the company’s stock worth $54,000 after acquiring an additional 658 shares during the last quarter. CWM LLC grew its stake in shares of Maplebear by 42.2% in the 3rd quarter. CWM LLC now owns 1,634 shares of the company’s stock worth $60,000 after acquiring an additional 485 shares in the last quarter. SRH Advisors LLC purchased a new stake in shares of Maplebear in the second quarter valued at about $61,000. Finally, Huntington National Bank raised its holdings in shares of Maplebear by 2,288.5% in the second quarter. Huntington National Bank now owns 1,457 shares of the company’s stock valued at $66,000 after purchasing an additional 1,396 shares during the last quarter. 63.09% of the stock is owned by institutional investors.

Maplebear Trading Down 0.9%

Maplebear stock opened at $44.98 on Wednesday. Maplebear Inc. has a 1-year low of $34.78 and a 1-year high of $53.50. The firm has a market capitalization of $11.81 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 1.48 and a beta of 1.01. The firm’s 50 day simple moving average is $41.59 and its 200 day simple moving average is $43.54.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Monday, November 10th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $939.00 million during the quarter, compared to analyst estimates of $933.76 million. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. Research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Transactions at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of Maplebear stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $45.21, for a total transaction of $222,161.94. Following the completion of the transaction, the general counsel owned 404,940 shares in the company, valued at approximately $18,307,337.40. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fidji Simo sold 1,014 shares of Maplebear stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $40.00, for a total transaction of $40,560.00. Following the completion of the transaction, the director directly owned 569,742 shares of the company’s stock, valued at $22,789,680. This trade represents a 0.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,525 shares of company stock worth $521,304 in the last ninety days. Insiders own 26.00% of the company’s stock.

Analyst Upgrades and Downgrades

CART has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Monday, September 29th. BTIG Research reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Maplebear in a report on Tuesday, September 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a report on Monday. Fox Advisors lowered shares of Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Finally, BMO Capital Markets upgraded Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.21.

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.