Osaic Holdings Inc. Purchases 80,312 Shares of Maplebear Inc. $CART

Osaic Holdings Inc. raised its position in Maplebear Inc. (NASDAQ:CART) by 485.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 96,871 shares of the company’s stock after buying an additional 80,312 shares during the quarter. Osaic Holdings Inc.’s holdings in Maplebear were worth $4,382,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of Maplebear by 1.3% during the 2nd quarter. State Street Corp now owns 5,101,870 shares of the company’s stock worth $230,809,000 after acquiring an additional 66,588 shares in the last quarter. Boston Partners boosted its holdings in Maplebear by 93.3% during the second quarter. Boston Partners now owns 3,961,838 shares of the company’s stock worth $179,261,000 after purchasing an additional 1,911,771 shares during the last quarter. Viking Global Investors LP bought a new position in Maplebear in the second quarter valued at $169,782,000. Altimeter Capital Management LP increased its stake in Maplebear by 31.9% in the 1st quarter. Altimeter Capital Management LP now owns 3,348,128 shares of the company’s stock valued at $133,557,000 after buying an additional 810,510 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Maplebear in the 2nd quarter valued at $151,364,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CART. Mizuho assumed coverage on shares of Maplebear in a research note on Tuesday, September 30th. They set a “neutral” rating and a $45.00 price objective for the company. Benchmark reduced their price target on Maplebear from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Stifel Nicolaus decreased their price target on Maplebear from $56.00 to $49.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Piper Sandler cut Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research note on Friday, October 3rd. Finally, Wells Fargo & Company cut their price objective on Maplebear from $57.00 to $47.00 and set an “equal weight” rating for the company in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.21.

Maplebear Stock Down 0.1%

Shares of NASDAQ CART opened at $45.01 on Thursday. The business’s 50 day moving average price is $41.07 and its two-hundred day moving average price is $43.52. The company has a market cap of $11.82 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.47 and a beta of 1.01. Maplebear Inc. has a twelve month low of $34.78 and a twelve month high of $53.50.

Maplebear (NASDAQ:CART) last issued its earnings results on Monday, November 10th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $939.00 million during the quarter, compared to the consensus estimate of $933.76 million. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. As a group, research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Morgan Fong sold 4,914 shares of Maplebear stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $45.21, for a total transaction of $222,161.94. Following the completion of the sale, the general counsel owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. The trade was a 1.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Fidji Simo sold 3,051 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $39.60, for a total transaction of $120,819.60. Following the completion of the transaction, the director directly owned 570,756 shares in the company, valued at approximately $22,601,937.60. This represents a 0.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 12,525 shares of company stock valued at $521,304. Company insiders own 26.00% of the company’s stock.

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.