Aquatic Capital Management LLC Buys Shares of 231,040 Maplebear Inc. $CART

Aquatic Capital Management LLC purchased a new position in shares of Maplebear Inc. (NASDAQ:CART) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 231,040 shares of the company’s stock, valued at approximately $8,493,000. Aquatic Capital Management LLC owned 0.09% of Maplebear at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CART. Hantz Financial Services Inc. boosted its position in Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after buying an additional 389 shares during the period. Abich Financial Wealth Management LLC acquired a new position in shares of Maplebear in the third quarter worth $43,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Maplebear during the second quarter worth $53,000. CWM LLC raised its stake in shares of Maplebear by 42.2% in the third quarter. CWM LLC now owns 1,634 shares of the company’s stock valued at $60,000 after acquiring an additional 485 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Maplebear by 71.6% in the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock valued at $67,000 after acquiring an additional 698 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Benchmark lowered their target price on Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Needham & Company LLC increased their price target on Maplebear from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Stifel Nicolaus decreased their price objective on Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Wells Fargo & Company lowered their price objective on Maplebear from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, February 13th. Finally, BNP Paribas Exane initiated coverage on shares of Maplebear in a research note on Wednesday, January 14th. They set an “underperform” rating and a $41.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $51.04.

Insider Activity

In other news, General Counsel Morgan Fong sold 126,083 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the completion of the transaction, the general counsel directly owned 386,643 shares of the company’s stock, valued at approximately $14,340,588.87. This represents a 24.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 26.00% of the company’s stock.

Maplebear Price Performance

NASDAQ:CART opened at $38.23 on Monday. The firm has a market capitalization of $9.20 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 0.58 and a beta of 0.98. The business’s fifty day moving average price is $38.00 and its 200 day moving average price is $40.45. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50.

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.