Y Intercept Hong Kong Ltd Acquires Shares of 32,310 Maplebear Inc. $CART

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

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pinnacle Bancorp Inc. purchased a new stake in Maplebear during the first quarter valued at $25,000. PenderFund Capital Management Ltd. purchased a new stake in shares of Maplebear during the 4th quarter valued at about $27,000. Allworth Financial LP increased its stake in Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after acquiring an additional 244 shares during the last quarter. IFP Advisors Inc increased its stake in Maplebear by 761.3% during the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after acquiring an additional 845 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its position in Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after purchasing an additional 787 shares during the period. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Price Performance

Shares of CART traded up $0.11 during mid-day trading on Friday, reaching $48.39. 6,367,810 shares of the company’s stock traded hands, compared to its average volume of 4,100,508. The stock’s 50-day moving average is $42.87 and its two-hundred day moving average is $40.59. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50. The stock has a market cap of $11.37 billion, a P/E ratio of 27.03, a P/E/G ratio of 0.66 and a beta of 0.75.

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

Insider Buying and Selling at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company’s 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 transaction, the chief accounting officer owned 58,971 shares in the company, valued at approximately $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. 24.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Weiss Ratings upgraded Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Maplebear in a report on Thursday, May 7th. Wells Fargo & Company raised their price target on Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Citizens Jmp reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of Maplebear in a research note on Monday, June 15th. Finally, Jefferies Financial Group upgraded shares of Maplebear from a “hold” rating to a “buy” rating and boosted their price objective for the company from $38.00 to $45.00 in a research report on Monday, March 30th. One research 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 stock. Based on data from MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and an average price target of $51.09.

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.