Maplebear Inc. (NASDAQ:CART) Shares Acquired by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. raised its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 112.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,849 shares of the company's stock after acquiring an additional 40,612 shares during the quarter. Maplebear makes up 0.9% of Lecap Asset Management Ltd.'s portfolio, making the stock its 18th largest holding. Lecap Asset Management Ltd.'s holdings in Maplebear were worth $3,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pacer Advisors Inc. purchased a new position in Maplebear during the third quarter valued at $158,701,000. Geode Capital Management LLC raised its stake in shares of Maplebear by 151.7% in the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock worth $111,361,000 after buying an additional 1,647,081 shares during the period. Maverick Capital Ltd. lifted its position in shares of Maplebear by 19.7% during the 3rd quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company's stock valued at $109,363,000 after buying an additional 441,156 shares in the last quarter. State Street Corp grew its stake in shares of Maplebear by 48.3% during the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company's stock valued at $103,994,000 after acquiring an additional 831,795 shares during the period. Finally, Southpoint Capital Advisors LP increased its holdings in Maplebear by 56.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company's stock worth $101,850,000 after acquiring an additional 900,000 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Stock Performance

CART stock traded down $0.47 during midday trading on Tuesday, reaching $49.85. The company's stock had a trading volume of 1,431,065 shares, compared to its average volume of 4,107,904. The firm has a market capitalization of $12.81 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 1.09 and a beta of 1.07. Maplebear Inc. has a 1 year low of $24.52 and a 1 year high of $50.48. The stock has a fifty day simple moving average of $44.75 and a two-hundred day simple moving average of $41.29.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.20. The company had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted ($20.86) EPS. As a group, analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Activity

In other news, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total value of $92,261.82. Following the transaction, the chief accounting officer now owns 89,982 shares of the company's stock, valued at $3,694,660.92. The trade was a 2.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction on Monday, November 25th. The stock was sold at an average price of $42.97, for a total transaction of $891,627.50. Following the completion of the transaction, the chief executive officer now directly owns 1,804,243 shares in the company, valued at $77,528,321.71. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,555 shares of company stock valued at $2,164,787. Corporate insiders own 36.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CART. Piper Sandler lifted their price target on shares of Maplebear from $50.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Needham & Company LLC upgraded shares of Maplebear from a "hold" rating to a "buy" rating and set a $56.00 target price on the stock in a research note on Monday, January 13th. BMO Capital Markets increased their price target on Maplebear from $39.00 to $48.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on Maplebear from $47.00 to $52.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley lifted their target price on Maplebear from $41.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.96.

Maplebear Profile

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.