Alyeska Investment Group L.P. Has $40.42 Million Stock Position in Maplebear Inc. $CART

Key Points

• Alyeska Investment Group L.P. increased its stake in Maplebear Inc. (CART) by 5.5%, owning 1,013,159 shares valued at approximately $40.42 million as of the latest reporting period.
• Maplebear reported a quarterly earnings per share (EPS) of $0.41, exceeding analysts' expectations, with revenue of $914 million and a significant 11.1% increase compared to the previous year.
• Analysts have set a consensus price target of $55.63 for Maplebear, with multiple firms increasing their target on the stock, reflecting a general positive outlook.

Alyeska Investment Group L.P. lifted its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 5.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,013,159 shares of the company's stock after purchasing an additional 52,916 shares during the quarter. Alyeska Investment Group L.P. owned 0.39% of Maplebear worth $40,415,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Maplebear by 3.4% during the first quarter. Vanguard Group Inc. now owns 16,514,830 shares of the company's stock worth $658,777,000 after purchasing an additional 546,472 shares during the period. Victory Capital Management Inc. grew its holdings in Maplebear by 62.8% during the first quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company's stock worth $293,919,000 after buying an additional 2,841,559 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Maplebear by 10.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,226,979 shares of the company's stock worth $208,505,000 after buying an additional 482,327 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Maplebear by 85.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock worth $127,650,000 after buying an additional 1,416,426 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Maplebear by 15.0% during the first quarter. Federated Hermes Inc. now owns 2,832,384 shares of the company's stock worth $112,984,000 after buying an additional 370,120 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Price Performance

NASDAQ:CART opened at $44.42 on Thursday. The business has a 50 day moving average of $46.85 and a 200 day moving average of $44.28. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.45 and a beta of 1.21. Maplebear Inc. has a 1-year low of $33.17 and a 1-year high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. The company had revenue of $914.00 million during the quarter, compared to the consensus estimate of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.Maplebear's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. As a group, sell-side analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CART. Morgan Stanley upped their price target on Maplebear from $45.00 to $48.00 and gave the stock an "equal weight" rating in a report on Friday, August 15th. Sanford C. Bernstein increased their price target on Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Jefferies Financial Group increased their price objective on Maplebear from $50.00 to $55.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Bank of America increased their price objective on Maplebear from $53.00 to $58.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Finally, Barclays increased their price objective on Maplebear from $61.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Maplebear presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.63.

Insider Buying and Selling

In other Maplebear news, insider Daniel Danker sold 10,037 shares of Maplebear stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $48.82, for a total value of $490,006.34. Following the transaction, the insider directly owned 470,190 shares of the company's stock, valued at $22,954,675.80. The trade was a 2.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fidji Simo sold 66,560 shares of Maplebear stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $50.01, for a total value of $3,328,665.60. Following the completion of the transaction, the chief executive officer directly owned 1,965,445 shares in the company, valued at $98,291,904.45. This trade represents a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,971,102 shares of company stock valued at $237,536,372 over the last quarter. Company insiders own 26.00% of the company's stock.

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.

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