Sivia Capital Partners LLC Makes New Investment in Maplebear Inc. (NASDAQ:CART)

Sivia Capital Partners LLC purchased a new position in shares of Maplebear Inc. (NASDAQ:CART) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,883 shares of the company’s stock, valued at approximately $369,000.

A number of other institutional investors have also recently bought and sold shares of CART. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Maplebear in the third quarter valued at approximately $2,078,000. Alberta Investment Management Corp acquired a new stake in Maplebear during the third quarter worth approximately $252,000. Element Capital Management LLC acquired a new stake in Maplebear during the third quarter worth approximately $1,484,000. Scge Management L.P. acquired a new stake in Maplebear during the third quarter worth approximately $8,314,000. Finally, SC US Ttgp LTD. acquired a new stake in Maplebear during the third quarter worth approximately $1,180,490,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Price Performance

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

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.39. The firm had revenue of $820.00 million for the quarter, compared to the consensus estimate of $794.08 million. Maplebear’s quarterly revenue was up 8.0% compared to the same quarter last year. Analysts expect that Maplebear Inc. will post 1.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CART shares. Wolfe Research increased their price target on Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Robert W. Baird increased their price target on Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Gordon Haskett upgraded Maplebear from a “hold” rating to a “buy” rating and upped their target price for the stock from $37.00 to $45.00 in a research note on Wednesday, June 5th. Benchmark restated a “hold” rating on shares of Maplebear in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. upped their target price on Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and an average price target of $41.25.

Insider Transactions at Maplebear

In related news, CFO Nick Giovanni sold 10,000 shares of Maplebear stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $36.97, for a total transaction of $369,700.00. Following the transaction, the chief financial officer now owns 576,977 shares in the company, valued at approximately $21,330,839.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Maplebear news, CEO Fidji Simo sold 2,500 shares of Maplebear stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $33.81, for a total value of $84,525.00. Following the sale, the chief executive officer now directly owns 1,992,667 shares in the company, valued at approximately $67,372,071.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Nick Giovanni sold 10,000 shares of Maplebear stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $36.97, for a total transaction of $369,700.00. Following the completion of the sale, the chief financial officer now owns 576,977 shares in the company, valued at $21,330,839.69. The disclosure for this sale can be found here. Insiders have sold 97,863 shares of company stock worth $3,367,121 in the last 90 days. 36.00% of the stock is currently owned by insiders.

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.