Alyeska Investment Group L.P. Has $480,000 Stake in Maplebear Inc. $CART

Key Points

• Alyeska Investment Group cut its Maplebear stake by 96.5% in the second quarter, selling 278,080 shares and retaining 10,143 shares valued at approximately $480,000. Institutional investors collectively own 63.09% of CART.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $55.86. Recent targets range from $55 to $77.
• Maplebear shares opened at $50.05, near their 12-month high, while the company’s latest quarterly EPS of $0.45 missed estimates of $0.54 despite revenue of $1.04 billion, up 14.1% year over year.

Alyeska Investment Group L.P. lessened its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 96.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,143 shares of the company's stock after selling 278,080 shares during the period. Alyeska Investment Group L.P.'s holdings in Maplebear were worth $480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CART. PenderFund Capital Management Ltd. acquired a new position in Maplebear during the 4th quarter worth approximately $27,000. Pinnacle Bancorp Inc. bought a new stake in shares of Maplebear in the first quarter worth $25,000. Allworth Financial LP grew its holdings in shares of Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company's stock valued at $34,000 after acquiring an additional 244 shares in the last quarter. IFP Advisors Inc increased its position in shares of Maplebear by 761.3% in the fourth quarter. IFP Advisors Inc now owns 956 shares of the company's stock valued at $43,000 after acquiring an additional 845 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its position in shares of Maplebear by 212.7% in the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock valued at $43,000 after acquiring an additional 787 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company's stock.

Analysts Set New Price Targets

CART has been the subject of a number of analyst reports. BNP Paribas Exane raised Maplebear from an "underperform" rating to a "neutral" rating and set a $56.00 price target on the stock in a research report on Friday, August 7th. Rosenblatt Securities began coverage on Maplebear in a report on Tuesday. They issued a "neutral" rating and a $55.00 price objective for the company. Oppenheimer boosted their target price on Maplebear from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Wedbush assumed coverage on Maplebear in a research note on Thursday, July 16th. They issued an "outperform" rating and a $59.00 price target on the stock. Finally, Barclays raised their price target on Maplebear from $69.00 to $77.00 and gave the company an "overweight" rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $55.86.

Maplebear Trading Down 0.9%

Shares of NASDAQ:CART opened at $50.05 on Wednesday. The firm has a 50 day moving average of $47.55 and a 200-day moving average of $42.48. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $52.05. The stock has a market capitalization of $11.59 billion, a PE ratio of 27.35, a PEG ratio of 0.98 and a beta of 0.78.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.09). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The business's revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. On average, research analysts predict that Maplebear Inc. will post 2.33 EPS for the current fiscal year.

Insider Transactions at Maplebear

In other news, insider Morgan Fong sold 18,390 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $49.96, for a total transaction of $918,764.40. Following the sale, the insider directly owned 529,911 shares in the company, valued at approximately $26,474,353.56. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 150,000 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total value of $7,591,500.00. Following the completion of the transaction, the director directly owned 591,523 shares of the company's stock, valued at $29,936,979.03. This represents a 20.23% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 24.00% of the company's stock.

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.

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