Vanguard Personalized Indexing Management LLC Has $581,000 Stake in Maplebear Inc. $CART

Vanguard Personalized Indexing Management LLC raised its stake in Maplebear Inc. (NASDAQ:CART) by 47.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,840 shares of the company’s stock after buying an additional 4,123 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Maplebear were worth $581,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Maplebear in the first quarter valued at about $40,000. Spire Wealth Management acquired a new position in Maplebear in the first quarter valued at about $41,000. CWM LLC lifted its stake in Maplebear by 35.1% in the first quarter. CWM LLC now owns 1,058 shares of the company’s stock valued at $42,000 after buying an additional 275 shares during the period. Golden State Wealth Management LLC lifted its stake in Maplebear by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company’s stock valued at $43,000 after buying an additional 533 shares during the period. Finally, Fifth Third Bancorp lifted its stake in Maplebear by 123.7% in the second quarter. Fifth Third Bancorp now owns 1,190 shares of the company’s stock valued at $54,000 after buying an additional 658 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analyst Ratings Changes

CART has been the topic of several analyst reports. Fox Advisors raised Maplebear from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Piper Sandler lowered Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research report on Friday, October 3rd. BTIG Research reaffirmed a “neutral” rating and set a $55.00 price target on shares of Maplebear in a research report on Tuesday, September 30th. JMP Securities raised their price target on Maplebear from $55.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, August 8th. Finally, Jefferies Financial Group dropped their price target on Maplebear from $55.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.40.

Maplebear Stock Performance

NASDAQ:CART opened at $38.81 on Wednesday. The company has a market cap of $10.22 billion, a PE ratio of 22.43, a PEG ratio of 1.20 and a beta of 1.10. Maplebear Inc. has a 52-week low of $34.87 and a 52-week high of $53.50. The stock has a 50-day simple moving average of $42.37 and a 200 day simple moving average of $44.21.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $914.00 million during the quarter, compared to the consensus estimate of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.Maplebear’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $0.20 earnings per share. On average, research analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Chris Rogers sold 9,259 shares of Maplebear stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $42.37, for a total transaction of $392,303.83. Following the completion of the transaction, the chief executive officer directly owned 739,880 shares in the company, valued at approximately $31,348,715.60. The trade was a 1.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the company’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $47.75, for a total value of $232,268,988.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,888,282 shares of company stock valued at $233,310,708. 26.00% of the stock is owned by insiders.

About Maplebear

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.