AMI Asset Management Corp Acquires Shares of 454,115 Maplebear Inc. $CART

AMI Asset Management Corp bought a new stake in shares of Maplebear Inc. (NASDAQ:CART) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 454,115 shares of the company’s stock, valued at approximately $16,693,000. AMI Asset Management Corp owned approximately 0.17% of Maplebear as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Securian Asset Management Inc. lifted its position in shares of Maplebear by 2.1% in the 2nd quarter. Securian Asset Management Inc. now owns 12,509 shares of the company’s stock worth $566,000 after purchasing an additional 252 shares during the period. Smartleaf Asset Management LLC raised its stake in Maplebear by 9.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after buying an additional 261 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in Maplebear by 2.5% during the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after buying an additional 273 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Maplebear by 0.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 75,161 shares of the company’s stock valued at $3,546,000 after acquiring an additional 315 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Maplebear by 1.3% in the 2nd quarter. Parallel Advisors LLC now owns 25,845 shares of the company’s stock valued at $1,169,000 after acquiring an additional 321 shares during the period. Institutional investors own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CART. Fox Advisors cut Maplebear from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 18th. BMO Capital Markets raised shares of Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Tuesday, November 11th. Wells Fargo & Company cut their price objective on shares of Maplebear from $57.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Friday, October 3rd. Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Robert W. Baird decreased their target price on shares of Maplebear from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and a consensus price target of $52.21.

Insiders Place Their Bets

In other Maplebear news, Director Fidji Simo sold 1,014 shares of the company’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $40.00, for a total transaction of $40,560.00. Following the transaction, the director directly owned 569,742 shares in the company, valued at $22,789,680. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Morgan Fong sold 4,914 shares of the stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $45.21, for a total transaction of $222,161.94. Following the sale, the general counsel directly owned 404,940 shares in the company, valued at $18,307,337.40. This represents a 1.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,525 shares of company stock worth $521,304 in the last 90 days. Company insiders own 26.00% of the company’s stock.

Maplebear Stock Down 0.1%

CART opened at $45.01 on Friday. Maplebear Inc. has a twelve month low of $34.78 and a twelve month high of $53.50. The company has a market cap of $11.82 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01. The company has a 50-day moving average price of $41.19 and a 200 day moving average price of $43.53.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The company had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $933.76 million. During the same quarter in the prior year, the company earned $0.42 EPS. Maplebear’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.

Maplebear Company Profile

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.