Quantinno Capital Management LP Has $7.12 Million Stock Position in Maplebear Inc. $CART

Quantinno Capital Management LP grew its holdings in Maplebear Inc. (NASDAQ:CART) by 27.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 190,090 shares of the company’s stock after acquiring an additional 41,213 shares during the quarter. Quantinno Capital Management LP’s holdings in Maplebear were worth $7,121,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Polar Asset Management Partners Inc. increased its position in Maplebear by 6.8% during the first quarter. Polar Asset Management Partners Inc. now owns 129,574 shares of the company’s stock worth $4,854,000 after acquiring an additional 8,218 shares during the period. SummitTX Capital L.P. bought a new stake in Maplebear in the 1st quarter valued at about $481,000. Renaissance Technologies LLC boosted its holdings in Maplebear by 10.0% in the 1st quarter. Renaissance Technologies LLC now owns 1,567,054 shares of the company’s stock valued at $58,702,000 after purchasing an additional 142,600 shares during the period. Compound Planning Inc. grew its position in shares of Maplebear by 6.9% during the 1st quarter. Compound Planning Inc. now owns 20,679 shares of the company’s stock worth $775,000 after purchasing an additional 1,332 shares in the last quarter. Finally, Caxton Associates LLP grew its position in shares of Maplebear by 260.9% during the 1st quarter. Caxton Associates LLP now owns 53,418 shares of the company’s stock worth $2,001,000 after purchasing an additional 38,616 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Maplebear

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the transaction, the director owned 741,523 shares in the company, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 24.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Weiss Ratings raised Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Barclays raised their price objective on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Guggenheim lifted their price objective on Maplebear from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Maplebear in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.67.

Maplebear Trading Down 0.7%

Shares of Maplebear stock opened at $45.35 on Thursday. The company has a 50 day moving average of $44.66 and a 200-day moving average of $40.78. 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 $10.66 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 0.62 and a beta of 0.78.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data 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 company 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%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. Research analysts forecast that Maplebear Inc. will post 2.47 earnings per share for the current year.

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.