HS Management Partners LLC Buys Shares of 171,434 Maplebear Inc. $CART

HS Management Partners LLC purchased a new position in shares of Maplebear Inc. (NASDAQ:CART) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 171,434 shares of the company’s stock, valued at approximately $8,117,000. Maplebear accounts for about 2.8% of HS Management Partners LLC’s portfolio, making the stock its 20th biggest position. HS Management Partners LLC owned about 0.07% of Maplebear as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CART. Allworth Financial LP raised its stake in shares of Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after purchasing an additional 244 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Maplebear by 9.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock valued at $134,000 after buying an additional 261 shares in the last quarter. Rafferty Asset Management LLC grew its position in Maplebear by 2.5% in the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock valued at $498,000 after buying an additional 273 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in Maplebear by 5.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock valued at $236,000 after buying an additional 304 shares during the period. Finally, Aviva PLC increased its stake in Maplebear by 3.9% during the 4th quarter. Aviva PLC now owns 11,279 shares of the company’s stock valued at $507,000 after buying an additional 424 shares during the period. Institutional investors own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CART shares. Wedbush began coverage on shares of Maplebear in a report on Thursday, July 16th. They issued an “outperform” rating and a $59.00 price objective for the company. Wall Street Zen cut Maplebear from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Needham & Company LLC upped their target price on Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Cantor Fitzgerald increased their price target on Maplebear from $56.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, BNP Paribas Exane upgraded Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price target on the stock in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.90.

Insider Buying and Selling at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction 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 transaction, the director directly owned 741,523 shares in the company, valued at $30,780,619.73. The trade was a 19.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 24.00% of the stock is currently owned by corporate insiders.

Maplebear Price Performance

NASDAQ CART opened at $48.93 on Wednesday. The company’s 50 day simple moving average is $46.07 and its 200 day simple moving average is $41.41. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $51.06. The company has a market capitalization of $11.33 billion, a P/E ratio of 26.74, a PEG ratio of 0.72 and a beta of 0.78.

Maplebear (NASDAQ:CART) last issued its earnings results on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. On average, analysts anticipate that Maplebear Inc. will post 2.33 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.