Carnegie Investment Counsel Has $19.96 Million Stock Position in Maplebear Inc. $CART

Carnegie Investment Counsel grew its holdings in Maplebear Inc. (NASDAQ:CART) by 83.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 542,936 shares of the company’s stock after purchasing an additional 247,061 shares during the period. Carnegie Investment Counsel owned about 0.21% of Maplebear worth $19,958,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Viking Global Investors LP acquired a new stake in Maplebear in the 2nd quarter valued at $169,782,000. William Blair Investment Management LLC bought a new stake in Maplebear during the second quarter worth about $151,364,000. Norges Bank acquired a new position in Maplebear during the second quarter valued at approximately $97,351,000. Boston Partners grew its stake in Maplebear by 93.3% in the second quarter. Boston Partners now owns 3,961,838 shares of the company’s stock valued at $179,261,000 after purchasing an additional 1,911,771 shares in the last quarter. Finally, Clark Capital Management Group Inc. acquired a new position in shares of Maplebear during the 1st quarter worth approximately $39,233,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Trading Up 0.4%

Shares of CART stock opened at $45.85 on Friday. The stock has a market cap of $12.04 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01. Maplebear Inc. has a 1 year low of $34.78 and a 1 year high of $53.50. The stock has a 50 day simple moving average of $41.33 and a 200 day simple moving average of $43.53.

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

Insider Transactions at Maplebear

In other Maplebear news, Director Fidji Simo sold 1,014 shares of the firm’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $40.00, for a total value of $40,560.00. Following the transaction, the director directly owned 569,742 shares of the company’s stock, valued at $22,789,680. This trade represents a 0.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 4,914 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $18,307,337.40. This trade represents a 1.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,525 shares of company stock worth $521,304 over the last quarter. Corporate insiders own 26.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CART shares. Fox Advisors cut shares of Maplebear from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 18th. JPMorgan Chase & Co. lowered their price objective on shares of Maplebear from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Wells Fargo & Company cut their target price on shares of Maplebear from $57.00 to $47.00 and set an “equal weight” rating for the company in a research note on Friday, October 3rd. Citigroup lowered their price target on Maplebear from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Finally, Wall Street Zen downgraded Maplebear from a “buy” rating to a “hold” rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.21.

Maplebear 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.