Candlestick Capital Management LP Buys 349,893 Shares of Maplebear Inc. (NASDAQ:CART)

Candlestick Capital Management LP boosted its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 55.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 977,672 shares of the company's stock after buying an additional 349,893 shares during the period. Candlestick Capital Management LP owned approximately 0.38% of Maplebear worth $40,495,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock valued at $187,495,000 after purchasing an additional 4,487,654 shares in the last quarter. Boston Partners bought a new position in shares of Maplebear in the fourth quarter valued at approximately $111,506,000. Vanguard Group Inc. lifted its holdings in shares of Maplebear by 16.8% in the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock valued at $661,409,000 after purchasing an additional 2,300,288 shares in the last quarter. Norges Bank bought a new position in shares of Maplebear in the fourth quarter valued at approximately $95,162,000. Finally, Marshall Wace LLP increased its position in shares of Maplebear by 199.2% during the fourth quarter. Marshall Wace LLP now owns 1,758,380 shares of the company's stock valued at $72,832,000 after acquiring an additional 1,170,634 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Price Performance

CART stock traded down $0.09 during mid-day trading on Thursday, hitting $39.80. 8,775,910 shares of the stock were exchanged, compared to its average volume of 4,075,414. The business has a fifty day moving average price of $40.36 and a 200 day moving average price of $43.46. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.19 and a beta of 1.20.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. During the same period in the prior year, the business posted $0.43 EPS. Maplebear's revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Morgan Fong sold 5,249 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the transaction, the general counsel now owns 484,292 shares in the company, valued at approximately $20,616,310.44. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the transaction, the chief executive officer now owns 1,662,692 shares in the company, valued at $72,011,190.52. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,165 shares of company stock worth $1,541,785 in the last ninety days. 26.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Benchmark reaffirmed a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $55.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Morgan Stanley raised their target price on Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Seaport Res Ptn raised Maplebear to a "strong-buy" rating in a research report on Wednesday, February 12th. Finally, Oppenheimer decreased their target price on Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Maplebear presently has an average rating of "Moderate Buy" and an average target price of $50.48.

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.