23,417 Shares in Maplebear Inc. $CART Acquired by AXQ Capital LP

AXQ Capital LP acquired a new stake in Maplebear Inc. (NASDAQ:CART) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,417 shares of the company’s stock, valued at approximately $861,000.

Several other institutional investors have also added to or reduced their stakes in CART. Smartleaf Asset Management LLC boosted its holdings in shares of Maplebear by 9.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock valued at $134,000 after purchasing an additional 261 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of Maplebear by 2.5% during the 2nd 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 last quarter. Hantz Financial Services Inc. boosted its stake in Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after buying an additional 389 shares in the last quarter. ProShare Advisors LLC boosted its stake in Maplebear by 5.7% in the second quarter. ProShare Advisors LLC now owns 7,284 shares of the company’s stock valued at $330,000 after buying an additional 390 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Maplebear by 0.8% in the third quarter. Arizona State Retirement System now owns 50,139 shares of the company’s stock valued at $1,843,000 after acquiring an additional 393 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Stock Performance

CART stock opened at $36.16 on Tuesday. The company has a market capitalization of $9.49 billion, a P/E ratio of 22.74, a PEG ratio of 0.55 and a beta of 1.00. The company has a fifty day moving average price of $40.15 and a 200-day moving average price of $41.27. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CART. BMO Capital Markets raised shares of Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a report on Tuesday, November 11th. Needham & Company LLC increased their price objective on shares of Maplebear from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Fox Advisors lowered shares of Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Stifel Nicolaus decreased their target price on shares of Maplebear from $49.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Maplebear from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Fifteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $51.38.

Insider Transactions at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $45.21, for a total value of $222,161.94. Following the sale, the general counsel owned 404,940 shares in the company, valued at approximately $18,307,337.40. The trade was a 1.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 26.00% of the stock is currently owned by corporate insiders.

Maplebear 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.