164,025 Shares in Maplebear Inc. $CART Acquired by Caxton Associates LLP

Caxton Associates LLP bought a new position in Maplebear Inc. (NASDAQ:CART) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 164,025 shares of the company’s stock, valued at approximately $7,420,000. Caxton Associates LLP owned 0.06% of Maplebear at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in Maplebear during the first quarter valued at $40,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Maplebear during the 2nd quarter valued at about $53,000. Fifth Third Bancorp grew its stake in shares of Maplebear by 123.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,190 shares of the company’s stock valued at $54,000 after purchasing an additional 658 shares during the period. SRH Advisors LLC purchased a new stake in shares of Maplebear during the 2nd quarter valued at about $61,000. Finally, Huntington National Bank lifted its stake in shares of Maplebear by 2,288.5% in the 2nd quarter. Huntington National Bank now owns 1,457 shares of the company’s stock worth $66,000 after purchasing an additional 1,396 shares during the period. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Maplebear news, General Counsel Morgan Fong sold 3,546 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $38.85, for a total value of $137,762.10. Following the completion of the transaction, the general counsel directly owned 427,523 shares in the company, valued at $16,609,268.55. This represents a 0.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Fidji Simo sold 1,014 shares of the stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $40.00, for a total transaction of $40,560.00. Following the sale, the director directly owned 569,742 shares of the company’s stock, valued at approximately $22,789,680. This trade represents a 0.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,556 shares of company stock worth $1,179,482. 26.00% of the stock is owned by corporate insiders.

Maplebear Price Performance

Shares of CART stock opened at $44.96 on Friday. The company has a market capitalization of $11.80 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.47 and a beta of 1.01. Maplebear Inc. has a one year low of $34.78 and a one year high of $53.50. The company’s fifty day moving average price is $40.05 and its 200-day moving average price is $43.57.

Maplebear (NASDAQ:CART) last issued its earnings results on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $939.00 million during the quarter, compared to the consensus estimate of $933.76 million. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. Maplebear’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. Equities research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CART shares. BTIG Research restated a “neutral” rating and set a $55.00 target price on shares of Maplebear in a research report on Tuesday, September 30th. Jefferies Financial Group lifted their price target on shares of Maplebear from $41.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday. Piper Sandler downgraded shares of Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research report on Friday, October 3rd. Benchmark decreased their target price on Maplebear from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Finally, Needham & Company LLC lowered their target price on Maplebear from $66.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and a consensus price target of $52.21.

Maplebear Company 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.