25,000 Shares in Maplebear Inc. $CART Acquired by Maytus Capital Management LLC

Key Points

• Maytus Capital Management opened a new position in Maplebear, buying 25,000 shares valued at about $1.12 million in the fourth quarter.
• Institutional ownership remains high, with multiple funds adding to their stakes and 63.09% of the stock held by institutional investors and hedge funds.
• Maplebear insiders also sold shares recently: CAO Lisa Blackwood-Kapral and Director Ravi Gupta both reduced their holdings, while analysts currently rate the stock Moderate Buy with an average price target of $51.09.

Maytus Capital Management LLC acquired a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 25,000 shares of the company's stock, valued at approximately $1,124,000.

Other institutional investors have also recently modified their holdings of the company. Allworth Financial LP raised its position in shares of Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company's stock worth $34,000 after purchasing an additional 244 shares during the last quarter. IFP Advisors Inc raised its position in shares of Maplebear by 761.3% during the 4th quarter. IFP Advisors Inc now owns 956 shares of the company's stock worth $43,000 after purchasing an additional 845 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock worth $43,000 after purchasing an additional 787 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Maplebear by 49.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,462 shares of the company's stock worth $66,000 after purchasing an additional 482 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Maplebear by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,673 shares of the company's stock worth $67,000 after purchasing an additional 698 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Maplebear

In other news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the sale, the chief accounting officer directly owned 58,971 shares of the company's stock, valued at $2,373,582.75. The trade was a 13.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the director directly owned 741,523 shares of the company's stock, valued at $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 24.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CART. Argus upgraded Maplebear to a "strong-buy" rating in a report on Thursday, March 5th. Raymond James Financial upgraded Maplebear from a "hold" rating to a "moderate buy" rating in a report on Thursday, April 9th. Citizens Jmp reiterated a "market outperform" rating and issued a $60.00 price target on shares of Maplebear in a report on Monday. Weiss Ratings upgraded Maplebear from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Finally, Wall Street Zen downgraded Maplebear from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Maplebear currently has an average rating of "Moderate Buy" and an average price target of $51.09.

Maplebear Stock Performance

Shares of CART opened at $44.21 on Wednesday. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The stock has a fifty day moving average of $41.16 and a two-hundred day moving average of $40.28. The company has a market capitalization of $10.39 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 0.58 and a beta of 0.88.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the firm earned $0.37 earnings per share. The firm's quarterly revenue was up 13.6% on a year-over-year basis. As a group, equities research analysts forecast that Maplebear Inc. will post 2.45 earnings per share for the current fiscal year.

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.

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