Caxton Associates LLP Increases Stock Position in Maplebear Inc. $CART

Caxton Associates LLP increased its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 260.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,418 shares of the company’s stock after acquiring an additional 38,616 shares during the period. Caxton Associates LLP’s holdings in Maplebear were worth $2,001,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CART. PenderFund Capital Management Ltd. purchased a new stake in shares of Maplebear in the 4th quarter worth about $27,000. Pinnacle Bancorp Inc. acquired a new position in shares of Maplebear during the 1st quarter worth approximately $25,000. Allworth Financial LP raised its position in shares of Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after purchasing an additional 244 shares during the last quarter. IFP Advisors Inc lifted its stake in Maplebear by 761.3% in the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after buying an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after buying an additional 787 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Maplebear

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the 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 completion of the sale, the director owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This trade represents a 19.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 24.00% of the stock is owned by company insiders.

Maplebear Stock Down 0.8%

Shares of CART stock opened at $42.21 on Friday. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The firm’s 50 day moving average price is $43.98 and its two-hundred day moving average price is $40.64. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 0.58 and a beta of 0.75.

Maplebear (NASDAQ:CART) last issued its earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the business posted $0.37 EPS. The business’s revenue was up 13.6% on a year-over-year basis. On average, equities analysts forecast that Maplebear Inc. will post 2.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CART has been the subject of a number of recent research reports. Jefferies Financial Group upgraded Maplebear from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $38.00 to $45.00 in a research report on Monday, March 30th. Weiss Ratings raised Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Maplebear in a research note on Thursday, May 7th. Wedbush assumed coverage on shares of Maplebear in a research note on Thursday, July 16th. They set an “outperform” rating and a $59.00 price objective for the company. Finally, Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.48.

Maplebear Company 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.