Entropy Technologies LP Buys New Stake in Maplebear Inc. (NASDAQ:CART)

Entropy Technologies LP purchased a new position in Maplebear Inc. (NASDAQ:CART) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 5,700 shares of the company’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. nVerses Capital LLC boosted its position in shares of 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Maplebear in the third quarter valued at about $74,000. Quarry LP boosted its holdings in Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after acquiring an additional 2,865 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Maplebear during the first quarter worth about $213,000. Finally, Watts Gwilliam & Co. LLC purchased a new stake in shares of Maplebear during the third quarter worth about $231,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Maplebear news, CEO Fidji Simo sold 33,000 shares of the business’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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 8,345 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $333,800.00. Following the completion of the transaction, the general counsel now owns 330,886 shares in the company, valued at approximately $13,235,440. This trade represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,710 shares of company stock worth $4,978,164. Company insiders own 36.00% of the company’s stock.

Maplebear Stock Down 2.2 %

NASDAQ:CART opened at $42.00 on Friday. The stock has a market capitalization of $10.95 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 1.30 and a beta of 1.12. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $50.01. The stock’s 50-day moving average price is $42.17 and its 200-day moving average price is $36.62.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a return on equity of 13.32% and a net margin of 13.37%. The business had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. During the same period in the previous year, the business earned ($20.86) earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. Sell-side analysts expect that Maplebear Inc. will post 1.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Benchmark reiterated a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a research note on Wednesday. Barclays upped their target price on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday. Jefferies Financial Group started coverage on Maplebear in a research note on Wednesday, October 16th. They set a “hold” rating and a $43.00 price target on the stock. Finally, Citigroup raised their price objective on Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.29.

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.