Maplebear Inc. (NASDAQ:CART) Shares Purchased by Renaissance Capital LLC

Renaissance Capital LLC boosted its position in shares of Maplebear Inc. (NASDAQ:CART) by 20.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 185,593 shares of the company’s stock after buying an additional 30,989 shares during the quarter. Maplebear makes up approximately 5.0% of Renaissance Capital LLC’s holdings, making the stock its 8th largest holding. Renaissance Capital LLC owned about 0.07% of Maplebear worth $7,561,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Sculptor Capital LP bought a new stake in Maplebear during the 2nd quarter worth about $77,361,000. Federated Hermes Inc. grew its holdings in Maplebear by 102.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock worth $55,739,000 after acquiring an additional 876,439 shares during the period. SG Americas Securities LLC bought a new stake in shares of Maplebear during the 1st quarter valued at $31,109,000. Lord Abbett & CO. LLC acquired a new position in shares of Maplebear in the 1st quarter valued at $28,674,000. Finally, Renaissance Technologies LLC bought a new position in shares of Maplebear in the 2nd quarter worth $22,816,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Up 0.4 %

Shares of NASDAQ CART opened at $43.00 on Wednesday. The business’s 50 day moving average price is $37.20 and its two-hundred day moving average price is $35.31. The company has a market cap of $11.38 billion and a PE ratio of -2.17. Maplebear Inc. has a twelve month low of $22.13 and a twelve month high of $45.01.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. The business had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $806.35 million. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, research analysts anticipate that Maplebear Inc. will post 1.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Maplebear news, General Counsel Morgan Fong sold 9,506 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $332,900.12. Following the completion of the sale, the general counsel now directly owns 372,335 shares in the company, valued at $13,039,171.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Alan Ramsay sold 2,626 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $91,962.52. Following the transaction, the chief accounting officer now directly owns 107,910 shares of the company’s stock, valued at approximately $3,779,008.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Morgan Fong sold 9,506 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $332,900.12. Following the completion of the sale, the general counsel now directly owns 372,335 shares of the company’s stock, valued at $13,039,171.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,955 shares of company stock valued at $2,480,317. Company insiders own 36.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wolfe Research assumed coverage on Maplebear in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. BMO Capital Markets boosted their price objective on shares of Maplebear from $36.00 to $39.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Maplebear in a research note on Monday, October 7th. Benchmark restated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Finally, Macquarie upped their price target on shares of Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.