Evergreen Capital Management LLC Takes $497,000 Position in Maplebear Inc. $CART

Evergreen Capital Management LLC bought a new position in shares of Maplebear Inc. (NASDAQ:CART) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,517 shares of the company’s stock, valued at approximately $497,000.

Other large investors also recently bought and sold shares of the company. Securian Asset Management Inc. boosted its stake 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 valued at $566,000 after buying an additional 252 shares during the period. Smartleaf Asset Management LLC lifted 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 acquiring an additional 261 shares during the last quarter. Rafferty Asset Management LLC grew its holdings in Maplebear by 2.5% during the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after acquiring an additional 273 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Maplebear by 0.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 75,161 shares of the company’s stock valued at $3,546,000 after purchasing an additional 315 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Maplebear by 5.7% in the 2nd quarter. ProShare Advisors LLC now owns 7,284 shares of the company’s stock valued at $330,000 after purchasing an additional 390 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CART shares. BNP Paribas Exane began coverage on shares of Maplebear in a research note on Wednesday, January 14th. They set an “underperform” rating and a $41.00 target price for the company. BTIG Research reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Maplebear in a research report on Tuesday, September 30th. Guggenheim started coverage on Maplebear in a research note on Wednesday, October 15th. They set a “neutral” rating and a $40.00 target price for the company. Exane BNP Paribas raised Maplebear to a “strong sell” rating in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Maplebear from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.73.

Maplebear Trading Up 1.2%

Shares of CART opened at $39.00 on Thursday. The company’s 50 day simple moving average is $42.94 and its 200-day simple moving average is $43.24. The firm has a market cap of $10.24 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 0.99 and a beta of 0.97. Maplebear Inc. has a 12-month low of $34.78 and a 12-month high of $53.50.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Monday, November 10th. The company reported $0.51 EPS 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 the consensus estimate of $933.76 million. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. Maplebear’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. As a group, equities research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Morgan Fong sold 4,914 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $45.21, for a total value of $222,161.94. Following the transaction, the general counsel owned 404,940 shares in the company, valued at $18,307,337.40. The trade was a 1.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 26.00% of the stock is currently owned by corporate insiders.

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.