Carlyle Group Inc. Takes $558,000 Position in Maplebear Inc. (NASDAQ:CART)

Carlyle Group Inc. bought a new position in shares of Maplebear Inc. (NASDAQ:CART) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 13,694 shares of the company’s stock, valued at approximately $558,000. Maplebear makes up approximately 0.1% of Carlyle Group Inc.’s portfolio, making the stock its 22nd largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in CART. Adero Partners LLC acquired a new position in Maplebear during the third quarter worth $456,000. CIBC Asset Management Inc increased its holdings in Maplebear by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock valued at $331,000 after buying an additional 286 shares during the period. ING Groep NV grew its position in Maplebear by 119.7% in the third quarter. ING Groep NV now owns 158,600 shares of the company’s stock valued at $6,461,000 after acquiring an additional 86,400 shares during the last quarter. Huntington National Bank acquired a new position in shares of Maplebear during the third quarter worth $54,000. Finally, Oppenheimer & Co. Inc. grew its holdings in Maplebear by 5.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock worth $493,000 after acquiring an additional 584 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analyst Ratings Changes

CART has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price objective on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. JMP Securities boosted their target price on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Maplebear in a research note on Monday, October 7th. Barclays upped their target price on Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Maplebear in a research report on Wednesday, November 13th. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.29.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 2,486 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $41.39, for a total transaction of $102,895.54. Following the completion of the transaction, the chief accounting officer now directly owns 99,225 shares of the company’s stock, valued at $4,106,922.75. The trade was a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Morgan Fong sold 29,253 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.03, for a total value of $1,405,021.59. Following the completion of the transaction, the general counsel now directly owns 258,406 shares in the company, valued at $12,411,240.18. The trade was a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,710 shares of company stock worth $4,978,164. 36.00% of the stock is owned by insiders.

Maplebear Price Performance

Shares of NASDAQ CART opened at $42.71 on Wednesday. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $50.01. The firm has a 50-day moving average of $42.43 and a 200 day moving average of $36.71. The stock has a market cap of $10.97 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 1.09 and a beta of 1.12.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. During the same quarter last year, the firm earned ($20.86) earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

About Maplebear

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.