Y Intercept Hong Kong Ltd Acquires New Shares in Maplebear Inc. $CART

Y Intercept Hong Kong Ltd bought a new position in Maplebear Inc. (NASDAQ:CART) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 32,310 shares of the company’s stock, valued at approximately $1,210,000.

Other institutional investors have also recently made changes to their positions in the company. Kingdon Capital Management L.L.C. grew its position in Maplebear by 40.6% in the 3rd quarter. Kingdon Capital Management L.L.C. now owns 450,000 shares of the company’s stock worth $16,542,000 after purchasing an additional 130,000 shares during the period. US Bancorp DE lifted its holdings in shares of Maplebear by 17.0% during the 4th quarter. US Bancorp DE now owns 437,658 shares of the company’s stock valued at $19,686,000 after buying an additional 63,666 shares during the period. Ruffer LLP bought a new position in shares of Maplebear during the 4th quarter valued at $2,567,000. CWM LLC boosted its stake in shares of Maplebear by 1,741.4% in the 4th quarter. CWM LLC now owns 30,088 shares of the company’s stock worth $1,353,000 after buying an additional 28,454 shares during the last quarter. Finally, Liontrust Investment Partners LLP purchased a new position in shares of Maplebear in the 3rd quarter worth $8,703,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

CART has been the topic of several analyst reports. Wall Street Zen cut shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Jefferies Financial Group upgraded Maplebear from a “hold” rating to a “buy” rating and upped their price objective for the stock from $38.00 to $45.00 in a research note on Monday, March 30th. Barclays raised their target price on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings raised Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $60.00 price target on shares of Maplebear in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.09.

Maplebear Stock Performance

Shares of CART traded up $0.11 during mid-day trading on Friday, reaching $48.39. The stock had a trading volume of 6,367,810 shares, compared to its average volume of 4,100,508. The firm has a market cap of $11.37 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 0.66 and a beta of 0.75. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50. The business has a fifty day moving average of $42.87 and a 200 day moving average of $40.59.

Maplebear (NASDAQ:CART) last issued its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company posted $0.37 EPS. The company’s quarterly revenue was up 13.6% on a year-over-year basis. On average, research analysts forecast that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Insider Activity

In related news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the sale, the chief accounting officer owned 58,971 shares in the company, valued at approximately $2,373,582.75. This trade represents a 13.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the sale, the director directly owned 741,523 shares in the company, valued at $30,780,619.73. This trade represents a 19.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 24.00% of the stock is owned by insiders.

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.