Pinnbrook Capital Management LP Invests $2.50 Million in Maplebear Inc. $CART

Pinnbrook Capital Management LP bought a new position in shares of Maplebear Inc. (NASDAQ:CART) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 52,800 shares of the company’s stock, valued at approximately $2,500,000.

Several other institutional investors have also bought and sold shares of CART. PenderFund Capital Management Ltd. acquired a new position in Maplebear during the fourth quarter worth $27,000. Pinnacle Bancorp Inc. bought a new position in shares of Maplebear during the first quarter valued at $25,000. Allworth Financial LP boosted its stake in shares of Maplebear by 35.7% in the 3rd 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. IFP Advisors Inc boosted its stake in shares of Maplebear by 761.3% in the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after purchasing an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in shares of Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after purchasing an additional 787 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Transactions at Maplebear

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction dated 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 sale, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CART has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Guggenheim boosted their price target on shares of Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Wedbush began coverage on shares of Maplebear in a research note on Thursday, July 16th. They set an “outperform” rating and a $59.00 price objective on the stock. Barclays raised their price objective on shares of Maplebear from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Wall Street Zen cut shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.90.

Maplebear Stock Performance

Maplebear stock opened at $49.83 on Friday. The firm has a market cap of $11.54 billion, a P/E ratio of 27.23, a P/E/G ratio of 0.73 and a beta of 0.78. The business’s fifty day moving average is $46.61 and its two-hundred day moving average is $41.66. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $51.81.

Maplebear (NASDAQ:CART) last announced 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). Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business posted $0.41 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts predict 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.