50,059 Shares in Maplebear Inc. $CART Bought by CenterBook Partners LP

CenterBook Partners LP purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 50,059 shares of the company’s stock, valued at approximately $1,840,000.

Several other hedge funds have also recently added to or reduced their stakes in CART. Hantz Financial Services Inc. increased its position in shares of Maplebear by 78.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Maplebear during the third quarter worth approximately $43,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Maplebear in the 2nd quarter worth approximately $53,000. CWM LLC boosted its stake in shares of Maplebear by 42.2% in the 3rd quarter. CWM LLC now owns 1,634 shares of the company’s stock valued at $60,000 after purchasing an additional 485 shares in the last quarter. Finally, Huntington National Bank boosted its stake in shares of Maplebear by 2,288.5% in the 2nd quarter. Huntington National Bank now owns 1,457 shares of the company’s stock valued at $66,000 after purchasing an additional 1,396 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling at Maplebear

In related news, General Counsel Morgan Fong sold 4,914 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $45.21, for a total value of $222,161.94. Following the completion of the transaction, the general counsel directly owned 404,940 shares of the company’s stock, valued at $18,307,337.40. This represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 26.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on CART shares. BNP Paribas Exane initiated coverage on shares of Maplebear in a research note on Wednesday, January 14th. They issued an “underperform” rating and a $41.00 price target for the company. Cantor Fitzgerald increased their target price on Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. JPMorgan Chase & Co. decreased their price target on Maplebear from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Wall Street Zen upgraded Maplebear from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Citigroup cut their target price on shares of Maplebear from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Fifteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $51.38.

Maplebear Stock Performance

CART opened at $35.56 on Friday. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50. The stock has a market capitalization of $9.34 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 0.55 and a beta of 1.00. The stock’s 50 day moving average price is $40.51 and its 200-day moving average price is $41.54.

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.