Intech Investment Management LLC Invests $4.30 Million in Maplebear Inc. $CART

Key Points

• Intech Investment Management opened a new position in Maplebear, buying 95,493 shares valued at about $4.3 million in the fourth quarter.
• Maplebear shares were up 6.0% to $42.20, while the company reported quarterly revenue of $1.02 billion, topping estimates even as EPS came in a penny below consensus.
• Analysts remain cautiously positive overall, with a consensus rating of “Moderate Buy” and an average price target of $51.09, though recent insider sales and mixed analyst actions added some caution.

Intech Investment Management LLC bought a new position in Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 95,493 shares of the company's stock, valued at approximately $4,295,000.

Several other hedge funds have also recently modified their holdings of the stock. Allworth Financial LP lifted its holdings in shares of Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company's stock worth $34,000 after buying an additional 244 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Maplebear by 9.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company's stock worth $134,000 after buying an additional 261 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Maplebear by 2.5% in the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company's stock worth $498,000 after buying an additional 273 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Maplebear by 5.0% in the third quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company's stock worth $236,000 after buying an additional 304 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company's stock worth $32,000 after buying an additional 389 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Stock Up 6.0%

CART stock opened at $42.20 on Tuesday. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 0.55 and a beta of 0.96. The firm's fifty day simple moving average is $40.19 and its two-hundred day simple moving average is $40.21.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $0.37 EPS. The company's revenue was up 13.6% on a year-over-year basis. As a group, equities research analysts expect that Maplebear Inc. will post 2.43 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on CART. Wall Street Zen downgraded shares of Maplebear from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Barclays boosted their target price on shares of Maplebear from $65.00 to $69.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Raymond James Financial upgraded shares of Maplebear from a "hold" rating to a "moderate buy" rating in a research report on Thursday, April 9th. Jefferies Financial Group upgraded shares of Maplebear from a "hold" rating to a "buy" rating and boosted their price target for the stock from $38.00 to $45.00 in a research report on Monday, March 30th. Finally, Wells Fargo & Company boosted their price target on shares of Maplebear from $45.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Maplebear currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.09.

Insiders Place Their Bets

In other Maplebear 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 transaction, the chief accounting officer owned 58,971 shares in the company, valued at $2,373,582.75. The trade was a 13.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Morgan Fong sold 126,083 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the transaction, the general counsel owned 386,643 shares in the company, valued at $14,340,588.87. This trade represents a 24.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 144,863 shares of company stock worth $5,418,135 in the last quarter. 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.

Want to see what other hedge funds are holding CART? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maplebear Inc. (NASDAQ:CART - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.