Magnetar Financial LLC Has $2.21 Million Stake in Maplebear Inc. $CART

Magnetar Financial LLC lifted its stake in Maplebear Inc. (NASDAQ:CART) by 844.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,739 shares of the company’s stock after buying an additional 43,581 shares during the period. Magnetar Financial LLC’s holdings in Maplebear were worth $2,205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CART. CWM LLC lifted its position in shares of Maplebear by 35.1% during the 1st quarter. CWM LLC now owns 1,058 shares of the company’s stock valued at $42,000 after acquiring an additional 275 shares during the period. Allianz Asset Management GmbH raised its stake in Maplebear by 1.5% in the first quarter. Allianz Asset Management GmbH now owns 148,352 shares of the company’s stock valued at $5,918,000 after purchasing an additional 2,195 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Maplebear during the first quarter worth about $1,955,000. KLP Kapitalforvaltning AS lifted its position in Maplebear by 42.9% during the first quarter. KLP Kapitalforvaltning AS now owns 27,300 shares of the company’s stock worth $1,089,000 after purchasing an additional 8,200 shares during the period. Finally, Cetera Investment Advisers grew its stake in Maplebear by 333.5% during the first quarter. Cetera Investment Advisers now owns 35,305 shares of the company’s stock worth $1,408,000 after buying an additional 27,161 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CART shares. JPMorgan Chase & Co. cut their price target on shares of Maplebear from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Barclays boosted their price objective on shares of Maplebear from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. BTIG Research reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Maplebear in a report on Tuesday, September 30th. Robert W. Baird lowered their price target on Maplebear from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Finally, Bank of America upped their price objective on Maplebear from $53.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and an average price target of $51.40.

Insider Buying and Selling at Maplebear

In related news, CEO Chris Rogers sold 9,259 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $42.37, for a total value of $392,303.83. Following the completion of the transaction, the chief executive officer owned 739,880 shares in the company, valued at $31,348,715.60. This trade represents a 1.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fidji Simo sold 7,140 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.30, for a total transaction of $337,722.00. Following the sale, the director directly owned 573,807 shares in the company, valued at $27,141,071.10. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 27,556 shares of company stock worth $1,179,482. 26.00% of the stock is currently owned by insiders.

Maplebear Stock Performance

NASDAQ CART opened at $40.19 on Friday. The firm’s fifty day moving average price is $39.61 and its two-hundred day moving average price is $43.82. The stock has a market cap of $10.55 billion, a PE ratio of 22.08, a PEG ratio of 1.31 and a beta of 1.10. Maplebear Inc. has a fifty-two week low of $34.78 and a fifty-two week high of $53.50.

Maplebear (NASDAQ:CART) last announced 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 company had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $933.76 million. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.Maplebear’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. As a group, sell-side analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Maplebear Profile

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.