Mitsubishi UFJ Trust & Banking Corp Grows Stock Holdings in Maplebear Inc. $CART

Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 24.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,974 shares of the company’s stock after purchasing an additional 24,106 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Maplebear were worth $4,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Maplebear Stock Down 2.0%

CART opened at $37.08 on Friday. The firm has a market cap of $9.73 billion, a P/E ratio of 20.37, a P/E/G ratio of 0.97 and a beta of 0.97. The business has a fifty day simple moving average of $42.68 and a 200-day simple moving average of $42.87. Maplebear Inc. has a 52 week low of $34.78 and a 52 week high of $53.50.

Maplebear (NASDAQ:CART) last released its earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $939.00 million for 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 firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. Sell-side analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

CART has been the topic of several recent research reports. BMO Capital Markets upgraded Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research report on Tuesday, November 11th. Citigroup decreased their target price on shares of Maplebear from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Needham & Company LLC reduced their price target on Maplebear from $66.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Benchmark reduced their price objective on shares of Maplebear from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, BNP Paribas Exane started coverage on Maplebear in a research note on Wednesday, January 14th. They set an “underperform” rating and a $41.00 price objective for the company. Fifteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Maplebear has a consensus rating of “Hold” and a consensus price target of $51.62.

Insider Transactions at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of the business’s stock in a transaction that occurred on 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 transaction, the general counsel owned 404,940 shares in the company, valued at $18,307,337.40. The trade was a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 26.00% of the stock is owned by corporate insiders.

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.