AXQ Capital LP Decreases Stock Holdings in Maplebear Inc. $CART

AXQ Capital LP lowered its stake in shares of Maplebear Inc. (NASDAQ:CART) by 57.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,000 shares of the company’s stock after selling 13,417 shares during the period. AXQ Capital LP’s holdings in Maplebear were worth $450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CART. Allworth Financial LP lifted its holdings in Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Maplebear by 9.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock valued at $134,000 after buying an additional 261 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in Maplebear by 2.5% during the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after buying an additional 273 shares during the period. Crossmark Global Holdings Inc. boosted its stake in Maplebear by 5.0% during the third quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock worth $236,000 after buying an additional 304 shares during the period. Finally, Hantz Financial Services Inc. increased its position in shares of Maplebear by 78.6% during the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after acquiring an additional 389 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CART has been the topic of several recent analyst reports. Argus upgraded shares of Maplebear to a “strong-buy” rating in a report on Thursday, March 5th. Benchmark dropped their target price on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Raymond James Financial raised Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Barclays upped their price target on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings raised Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.09.

Insiders Place Their Bets

In other news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was 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 directly owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. The trade was a 19.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total value of $377,947.50. Following the completion of the sale, the chief accounting officer directly owned 58,971 shares of the company’s stock, valued at $2,373,582.75. The trade was a 13.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 325,863 shares of company stock valued at $12,931,445. 24.00% of the stock is owned by corporate insiders.

Maplebear Stock Up 3.8%

Shares of NASDAQ:CART opened at $41.48 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 $40.41 and its 200 day moving average price is $40.22. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 0.55 and a beta of 0.88.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm posted $0.37 earnings per share. Maplebear’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, equities analysts anticipate that Maplebear Inc. will post 2.45 EPS for the current year.

About Maplebear

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.