Ardmore Road Asset Management LP Has $21.65 Million Stake in Maplebear Inc. $CART

Ardmore Road Asset Management LP decreased its stake in shares of Maplebear Inc. (NASDAQ:CART) by 30.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 578,024 shares of the company’s stock after selling 258,905 shares during the quarter. Ardmore Road Asset Management LP owned 0.25% of Maplebear worth $21,653,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new stake in Maplebear in the 1st quarter valued at $25,000. PenderFund Capital Management Ltd. acquired a new stake in shares of Maplebear during the 4th quarter valued at about $27,000. Allworth Financial LP increased its stake in Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares during the period. IFP Advisors Inc increased its stake in Maplebear by 761.3% in the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after acquiring an additional 845 shares during the period. Finally, Sunbelt Securities Inc. raised its position in Maplebear by 212.7% in the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after purchasing an additional 787 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Transactions at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the transaction, the director owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 24.00% of the company’s stock.

Maplebear Price Performance

Shares of CART opened at $42.21 on Monday. The company has a market capitalization of $9.92 billion, a P/E ratio of 23.58, a PEG ratio of 0.58 and a beta of 0.75. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50. The business’s 50 day simple moving average is $43.98 and its 200-day simple moving average is $40.61.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 earnings per share. On average, sell-side analysts anticipate that Maplebear Inc. will post 2.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CART. Weiss Ratings upgraded shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Citizens Jmp restated a “market outperform” rating and set a $60.00 target price on shares of Maplebear in a research report on Monday, June 15th. Wells Fargo & Company boosted their price target on Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Wedbush started coverage on Maplebear in a research note on Thursday, July 16th. They set an “outperform” rating and a $59.00 price objective for the company. Finally, Wall Street Zen raised Maplebear from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.48.

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.