Goodnow Investment Group LLC Boosts Position in Maplebear Inc. $CART

Goodnow Investment Group LLC boosted its stake in Maplebear Inc. (NASDAQ:CART) by 10.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,377,881 shares of the company’s stock after purchasing an additional 131,723 shares during the quarter. Maplebear comprises approximately 5.8% of Goodnow Investment Group LLC’s portfolio, making the stock its 5th biggest holding. Goodnow Investment Group LLC’s holdings in Maplebear were worth $61,977,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada raised its position in shares of Maplebear by 51.2% during the 1st quarter. Royal Bank of Canada now owns 131,789 shares of the company’s stock valued at $5,256,000 after buying an additional 44,642 shares in the last quarter. NewEdge Advisors LLC grew its position in Maplebear by 71.6% in the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock worth $67,000 after acquiring an additional 698 shares in the last quarter. Jones Financial Companies Lllp grew its position in Maplebear by 358.5% in the first quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company’s stock worth $128,000 after acquiring an additional 2,502 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Maplebear by 17.4% in the first quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company’s stock valued at $15,585,000 after acquiring an additional 57,879 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in Maplebear during the first quarter valued at about $268,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Citizens Jmp restated a “market outperform” rating and issued a $60.00 target price on shares of Maplebear in a research report on Monday. Argus raised Maplebear to a “strong-buy” rating in a research note on Thursday, March 5th. Wall Street Zen cut shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.09.

Maplebear Stock Performance

NASDAQ:CART opened at $42.18 on Tuesday. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The firm has a market cap of $9.91 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 0.57 and a beta of 0.88. The business has a 50 day moving average price of $41.05 and a 200-day moving average price of $40.27.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. Research analysts predict that Maplebear Inc. will post 2.45 EPS for the current year.

Insider Activity

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of Maplebear stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the sale, the chief accounting officer directly owned 58,971 shares of the company’s stock, valued at approximately $2,373,582.75. The trade was a 13.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the transaction, the director directly owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This represents a 19.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 24.00% of the stock is owned by insiders.

About Maplebear

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.