Exchange Traded Concepts LLC Purchases 1,993 Shares of Maplebear Inc. (NASDAQ:CART)

by · The Cerbat Gem

Exchange Traded Concepts LLC lifted its position in shares of Maplebear Inc. (NASDAQ:CART – Free Report) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,943 shares of the company’s stock after acquiring an additional 1,993 shares during the period. Exchange Traded Concepts LLC’s holdings in Maplebear were worth $2,646,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. nVerses Capital LLC grew its position in Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after purchasing an additional 1,600 shares during the period. Kapitalo Investimentos Ltda bought a new stake in shares of Maplebear during the 4th quarter valued at about $69,000. Quarry LP increased 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 valued at $126,000 after purchasing an additional 2,865 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Maplebear in the 1st quarter worth approximately $213,000. Finally, Watts Gwilliam & Co. LLC purchased a new position in shares of Maplebear in the third quarter worth approximately $231,000. Institutional investors own 63.09% of the company’s stock.

Maplebear Trading Down 1.7 %

Shares of Maplebear stock opened at $42.84 on Tuesday. The stock has a 50 day moving average of $36.97 and a 200 day moving average of $35.26. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $45.01. The firm has a market cap of $11.34 billion and a PE ratio of -2.16.

Maplebear (NASDAQ:CART – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. The company had revenue of $823.00 million during the quarter, compared to analyst estimates of $806.35 million. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. Maplebear’s revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts forecast that Maplebear Inc. will post 1.14 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Fidji Simo sold 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total value of $1,163,910.00. Following the completion of the sale, the chief executive officer now directly owns 1,844,778 shares of the company’s stock, valued at $65,065,320.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Alan Ramsay sold 2,626 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $91,962.52. Following the sale, the chief accounting officer now directly owns 107,910 shares in the company, valued at approximately $3,779,008.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Fidji Simo sold 33,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total value of $1,163,910.00. Following the completion of the sale, the chief executive officer now owns 1,844,778 shares in the company, valued at approximately $65,065,320.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,955 shares of company stock valued at $2,480,317 in the last ninety days. Insiders own 36.00% of the company’s stock.

Analyst Upgrades and Downgrades

CART has been the topic of several recent research reports. Wedbush increased their price target on shares of Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Maplebear in a report on Monday, October 7th. Bank of America boosted their price target on Maplebear from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. KeyCorp assumed coverage on Maplebear in a research report on Thursday, July 11th. They issued a “sector weight” rating for the company. Finally, Benchmark restated a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

Check Out Our Latest Research Report on Maplebear

About Maplebear

(Free Report)

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.

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