Maplebear Inc. $CART Stock Holdings Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC grew its position in Maplebear Inc. (NASDAQ:CART) by 10.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,567,054 shares of the company’s stock after purchasing an additional 142,600 shares during the period. Renaissance Technologies LLC owned approximately 0.67% of Maplebear worth $58,702,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CART. PenderFund Capital Management Ltd. bought a new stake in shares of Maplebear during the 4th quarter worth about $27,000. Pinnacle Bancorp Inc. bought a new stake in Maplebear during the first quarter worth approximately $25,000. Allworth Financial LP lifted its position in Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after purchasing an additional 244 shares during the period. IFP Advisors Inc boosted its stake in Maplebear by 761.3% during 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 in the last quarter. Finally, Sunbelt Securities Inc. raised 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 worth $43,000 after buying an additional 787 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of Maplebear stock opened at $42.21 on Monday. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $53.50. The company has a market cap of $9.92 billion, a P/E ratio of 23.58, a P/E/G ratio of 0.58 and a beta of 0.75. The stock has a 50-day moving average price of $43.98 and a 200 day moving average price of $40.61.

Maplebear (NASDAQ:CART) last issued its 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 during the quarter, compared to analyst estimates of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. Maplebear’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. On average, equities analysts forecast that Maplebear Inc. will post 2.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the sale, the director owned 741,523 shares in the company, valued at $30,780,619.73. This represents a 19.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 24.00% of the company’s stock.

Analysts Set New Price Targets

CART has been the topic of a number of research reports. Wall Street Zen upgraded shares of Maplebear from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Citizens Jmp restated a “market outperform” rating and issued a $60.00 price target on shares of Maplebear in a research report on Monday, June 15th. Jefferies Financial Group upgraded Maplebear from a “hold” rating to a “buy” rating and increased their price objective for the company from $38.00 to $45.00 in a research report on Monday, March 30th. Wells Fargo & Company raised their price objective on Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Finally, Wedbush began coverage on Maplebear in a report on Thursday, July 16th. They set an “outperform” rating and a $59.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.48.

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.