Quinn Opportunity Partners LLC Has $18.62 Million Position in Maplebear Inc. $CART

Quinn Opportunity Partners LLC lifted its position in shares of Maplebear Inc. (NASDAQ:CART) by 124.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 506,647 shares of the company’s stock after acquiring an additional 280,987 shares during the quarter. Maplebear makes up approximately 1.3% of Quinn Opportunity Partners LLC’s portfolio, making the stock its 10th biggest position. Quinn Opportunity Partners LLC owned 0.19% of Maplebear worth $18,624,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Hantz Financial Services Inc. raised its position in Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Maplebear during the third quarter worth about $43,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Maplebear in the second quarter valued at approximately $53,000. CWM LLC increased 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 valued at $60,000 after buying an additional 485 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in Maplebear by 71.6% in the 1st quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock valued at $67,000 after buying an additional 698 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CART shares. Wells Fargo & Company cut their target price on shares of Maplebear from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, February 13th. Argus raised shares of Maplebear to a “strong-buy” rating in a research note on Thursday, March 5th. Benchmark cut their price target on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Wall Street Zen raised shares of Maplebear from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, Needham & Company LLC increased their price objective on Maplebear from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $51.04.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 126,083 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total value of $4,676,418.47. Following the completion of the sale, the general counsel owned 386,643 shares of the company’s stock, valued at approximately $14,340,588.87. This trade represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 26.00% of the company’s stock.

Maplebear Price Performance

Shares of Maplebear stock opened at $38.23 on Friday. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 0.58 and a beta of 0.98. The stock’s 50-day moving average is $38.00 and its 200 day moving average is $40.49. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50.

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.