78,458 Shares in Maplebear Inc. (NASDAQ:CART) Acquired by Portman Ltd

Portman Ltd purchased a new position in shares of Maplebear Inc. (NASDAQ:CART) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 78,458 shares of the company’s stock, valued at approximately $3,196,000. Maplebear makes up 8.0% of Portman Ltd’s portfolio, making the stock its 3rd largest position.

A number of other large investors also recently modified their holdings of the company. Huntington National Bank purchased a new position in shares of Maplebear in the 3rd quarter valued at about $54,000. nVerses Capital LLC increased its stake in Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after purchasing an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Maplebear during the third quarter worth approximately $74,000. Quarry LP lifted its position in shares of Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after buying an additional 2,865 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC acquired a new position in shares of Maplebear in the 3rd quarter valued at $231,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $43.22 on Friday. Maplebear Inc. has a one year low of $22.13 and a one year high of $50.01. The firm has a market capitalization of $11.10 billion, a P/E ratio of 29.01, a PEG ratio of 1.12 and a beta of 1.12. The company’s fifty day moving average is $42.82 and its two-hundred day moving average is $36.83.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping 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 firm had revenue of $852.00 million for the quarter, compared to the consensus estimate of $844.03 million. During the same quarter in the previous year, the firm earned ($20.86) earnings per share. The firm’s revenue was up 11.5% on a year-over-year basis. On average, sell-side analysts forecast that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Morgan Fong sold 8,345 shares of Maplebear stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $333,800.00. Following the completion of the transaction, the general counsel now owns 330,886 shares of the company’s stock, valued at $13,235,440. The trade was a 2.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 33,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the completion of the sale, the chief executive officer now directly owns 1,844,778 shares in the company, valued at approximately $65,065,320.06. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 123,204 shares of company stock worth $5,162,688 in the last quarter. Company insiders own 36.00% of the company’s stock.

Analyst Upgrades and Downgrades

CART has been the topic of several research analyst reports. Stifel Nicolaus lifted their price target on shares of Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Jefferies Financial Group began coverage on Maplebear in a research report on Wednesday, October 16th. They set a “hold” rating and a $43.00 target price on the stock. Benchmark reissued a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. BMO Capital Markets lifted their price target on Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. Finally, Citigroup boosted their price objective on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.29.

Maplebear Profile

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.