Sivia Capital Partners LLC Invests $369,000 in Maplebear Inc. (NASDAQ:CART)

Sivia Capital Partners LLC acquired a new position in Maplebear Inc. (NASDAQ:CART) during the first quarter, Holdings Channel.com reports. The firm acquired 9,883 shares of the company’s stock, valued at approximately $369,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Maplebear during the third quarter worth $2,078,000. Alberta Investment Management Corp purchased a new stake in Maplebear during the third quarter worth $252,000. Element Capital Management LLC purchased a new stake in Maplebear during the third quarter worth $1,484,000. Scge Management L.P. purchased a new stake in Maplebear during the third quarter worth $8,314,000. Finally, SC US Ttgp LTD. purchased a new stake in Maplebear during the third quarter worth $1,180,490,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Morgan Fong sold 18,687 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $34.86, for a total transaction of $651,428.82. Following the completion of the sale, the general counsel now directly owns 418,973 shares in the company, valued at $14,605,398.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, General Counsel Morgan Fong sold 18,687 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $34.86, for a total transaction of $651,428.82. Following the completion of the sale, the general counsel now directly owns 418,973 shares in the company, valued at $14,605,398.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Nick Giovanni sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $36.97, for a total transaction of $369,700.00. Following the sale, the chief financial officer now owns 576,977 shares of the company’s stock, valued at $21,330,839.69. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,863 shares of company stock worth $3,367,121. Insiders own 36.00% of the company’s stock.

Analyst Upgrades and Downgrades

CART has been the topic of a number of recent analyst reports. Macquarie initiated coverage on shares of Maplebear in a report on Monday, March 25th. They set an “outperform” rating and a $42.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Piper Sandler reissued an “overweight” rating and set a $47.00 price target (up from $45.00) on shares of Maplebear in a report on Thursday, May 9th. Wolfe Research increased their price objective on shares of Maplebear from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Finally, Barclays increased their price objective on shares of Maplebear from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Maplebear Stock Performance

Shares of NASDAQ:CART traded up $0.87 during midday trading on Wednesday, hitting $34.04. The company’s stock had a trading volume of 1,118,973 shares, compared to its average volume of 4,321,386. The business’s 50 day simple moving average is $33.37 and its 200 day simple moving average is $31.23. Maplebear Inc. has a 12-month low of $22.13 and a 12-month high of $42.95.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.39. The business had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $794.08 million. Maplebear’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts forecast that Maplebear Inc. will post 1.02 earnings per share for the current fiscal year.

About Maplebear

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.