Maplebear Inc. $CART Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its holdings in Maplebear Inc. (NASDAQ:CART) by 89.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,948 shares of the company’s stock after acquiring an additional 10,840 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Maplebear were worth $1,038,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CART. Envestnet Asset Management Inc. raised its stake in shares of Maplebear by 11.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 178,763 shares of the company’s stock worth $8,087,000 after buying an additional 18,436 shares during the last quarter. Shaker Investments LLC OH acquired a new position in shares of Maplebear during the 2nd quarter worth approximately $1,854,000. State of New Jersey Common Pension Fund D raised its position in shares of Maplebear by 10.2% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 57,717 shares of the company’s stock worth $2,611,000 after purchasing an additional 5,324 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of Maplebear during the 2nd quarter worth approximately $186,000. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Maplebear during the 2nd quarter worth approximately $212,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Morgan Fong sold 3,546 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $38.85, for a total transaction of $137,762.10. Following the transaction, the general counsel directly owned 427,523 shares in the company, valued at $16,609,268.55. This trade represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chris Rogers sold 9,259 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $42.37, for a total transaction of $392,303.83. Following the sale, the chief executive officer owned 739,880 shares in the company, valued at approximately $31,348,715.60. This trade represents a 1.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,556 shares of company stock worth $1,179,482 over the last ninety days. 26.00% of the stock is owned by insiders.

Maplebear Stock Up 1.6%

NASDAQ CART opened at $37.44 on Tuesday. The stock has a market cap of $9.86 billion, a PE ratio of 21.64, a P/E/G ratio of 1.13 and a beta of 1.10. Maplebear Inc. has a fifty-two week low of $34.87 and a fifty-two week high of $53.50. The business has a 50 day moving average price of $41.20 and a two-hundred day moving average price of $44.16.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 EPS. Sell-side analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CART has been the subject of several analyst reports. Guggenheim initiated coverage on shares of Maplebear in a research note on Wednesday, October 15th. They issued a “neutral” rating and a $40.00 target price for the company. Mizuho initiated coverage on shares of Maplebear in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $45.00 target price for the company. Citigroup boosted their target price on shares of Maplebear from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Wells Fargo & Company cut their target price on shares of Maplebear from $57.00 to $47.00 and set an “equal weight” rating for the company in a research note on Friday, October 3rd. Finally, Benchmark raised shares of Maplebear from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.12.

About Maplebear

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.