Invenomic Capital Management LP Has $12.11 Million Stake in Maplebear Inc. $CART

Invenomic Capital Management LP decreased its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 43.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 269,326 shares of the company’s stock after selling 210,078 shares during the quarter. Invenomic Capital Management LP owned approximately 0.10% of Maplebear worth $12,114,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Maplebear by 27.8% during the third quarter. JPMorgan Chase & Co. now owns 1,328,968 shares of the company’s stock worth $48,853,000 after purchasing an additional 288,839 shares during the last quarter. Kingdon Capital Management L.L.C. boosted its holdings in Maplebear by 40.6% during the third 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 last quarter. US Bancorp DE boosted its holdings in Maplebear by 17.0% during the fourth quarter. US Bancorp DE now owns 437,658 shares of the company’s stock worth $19,686,000 after purchasing an additional 63,666 shares during the last quarter. Ruffer LLP bought a new stake in Maplebear during the fourth quarter worth $2,567,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in Maplebear during the third quarter worth $2,239,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analyst Ratings Changes

CART has been the topic of several analyst reports. Wells Fargo & Company upped their price target on shares of Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Maplebear in a research report on Thursday, May 7th. Barclays upped their price target on shares of Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings raised shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Raymond James Financial raised shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.09.

Insider Activity

In other news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the 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 transaction, the chief accounting officer directly owned 58,971 shares of the company’s stock, valued at $2,373,582.75. This represents a 13.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the transaction, the director directly owned 741,523 shares in the company, valued at $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 24.00% of the stock is owned by corporate insiders.

Maplebear Trading Down 3.1%

NASDAQ CART opened at $42.82 on Thursday. The firm has a market capitalization of $10.06 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 0.61 and a beta of 0.88. The firm’s fifty day moving average price is $41.19 and its two-hundred day moving average price is $40.28. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $53.50.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data 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). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. Maplebear’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. On average, research analysts anticipate that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

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.