Kingdon Capital Management L.L.C. Has $16.54 Million Stock Position in Maplebear Inc. $CART

Kingdon Capital Management L.L.C. boosted its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 40.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 450,000 shares of the company’s stock after purchasing an additional 130,000 shares during the period. Maplebear comprises 2.1% of Kingdon Capital Management L.L.C.’s portfolio, making the stock its 13th biggest holding. Kingdon Capital Management L.L.C. owned about 0.17% of Maplebear worth $16,542,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Nordea Investment Management AB raised its stake in shares of Maplebear by 128.4% in the 3rd quarter. Nordea Investment Management AB now owns 119,828 shares of the company’s stock valued at $4,254,000 after purchasing an additional 67,374 shares during the period. JPMorgan Chase & Co. grew its position in shares of Maplebear by 7.5% in the second quarter. JPMorgan Chase & Co. now owns 1,040,129 shares of the company’s stock valued at $47,055,000 after purchasing an additional 72,643 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Maplebear by 64.4% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,157,010 shares of the company’s stock worth $97,583,000 after buying an additional 845,070 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Maplebear by 3,054.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,407,993 shares of the company’s stock valued at $51,758,000 after purchasing an additional 1,363,352 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in Maplebear by 261.8% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 99,868 shares of the company’s stock worth $4,518,000 after buying an additional 72,265 shares during the period. Institutional investors own 63.09% of the company’s stock.

Maplebear Trading Up 1.4%

Shares of Maplebear stock opened at $38.23 on Monday. Maplebear Inc. has a 12-month low of $32.73 and a 12-month high of $53.50. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 0.58 and a beta of 0.98. The firm’s 50 day simple moving average is $38.00 and its two-hundred day simple moving average is $40.45.

Insiders Place Their Bets

In other news, General Counsel Morgan Fong sold 126,083 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the completion of the transaction, the general counsel directly owned 386,643 shares of the company’s stock, valued at $14,340,588.87. This represents a 24.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 26.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CART shares. Argus raised shares of Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Benchmark decreased their price objective on Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Needham & Company LLC lifted their price objective on Maplebear from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Jefferies Financial Group lifted their price target on Maplebear from $41.00 to $48.00 and gave the company a “hold” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.04.

Maplebear Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.