Junto Capital Management LP Takes $28.57 Million Position in Maplebear Inc. $CART

Key Points

• Junto Capital Management LP invested approximately $28.57 million in Maplebear Inc. (NASDAQ:CART), acquiring 716,229 shares during the first quarter.
• Maplebear's revenue increased by 11.1% year-over-year for the latest quarter, hitting $914 million and beating analyst expectations.
• Analysts have a consensus rating of "Moderate Buy" for Maplebear, with an average target price of $55.63, following several upgrades from major brokerages.

Junto Capital Management LP purchased a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 716,229 shares of the company's stock, valued at approximately $28,570,000. Junto Capital Management LP owned about 0.27% of Maplebear at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CART. Victory Capital Management Inc. grew its stake in Maplebear by 62.8% in the 1st quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company's stock valued at $293,919,000 after purchasing an additional 2,841,559 shares during the period. Altimeter Capital Management LP purchased a new stake in shares of Maplebear in the 4th quarter valued at about $105,108,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Maplebear by 85.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock valued at $127,650,000 after acquiring an additional 1,416,426 shares in the last quarter. Champlain Investment Partners LLC purchased a new position in shares of Maplebear during the 1st quarter valued at about $52,333,000. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Maplebear during the 1st quarter valued at about $48,639,000. Institutional investors own 63.09% of the company's stock.

Insider Activity at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 4,680 shares of Maplebear stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $49.16, for a total transaction of $230,068.80. Following the completion of the sale, the general counsel owned 452,000 shares of the company's stock, valued at approximately $22,220,320. The trade was a 1.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel Danker sold 10,037 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $48.82, for a total value of $490,006.34. Following the completion of the transaction, the insider directly owned 470,190 shares of the company's stock, valued at approximately $22,954,675.80. This trade represents a 2.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,975,327 shares of company stock worth $237,736,848 in the last quarter. 26.00% of the stock is owned by insiders.

Maplebear Trading Down 1.1%

Shares of CART stock traded down $0.48 on Monday, reaching $43.37. 3,111,388 shares of the company's stock were exchanged, compared to its average volume of 5,852,252. Maplebear Inc. has a 52 week low of $33.17 and a 52 week high of $53.50. The stock has a market capitalization of $11.43 billion, a PE ratio of 25.07, a P/E/G ratio of 1.45 and a beta of 1.22. The company's fifty day simple moving average is $46.85 and its 200 day simple moving average is $44.28.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Benchmark raised Maplebear from a "hold" rating to a "buy" rating and set a $67.00 price target on the stock in a research note on Friday, August 8th. Macquarie reissued an "outperform" rating and issued a $55.00 target price on shares of Maplebear in a research note on Tuesday, May 6th. Robert W. Baird cut their target price on Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, August 22nd. Stifel Nicolaus upped their price target on Maplebear from $55.00 to $64.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, JMP Securities upped their price target on Maplebear from $55.00 to $60.00 and gave the stock a "market outperform" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Maplebear currently has a consensus rating of "Moderate Buy" and an average price target of $55.63.

Maplebear 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.