Kintayl Capital LP Invests $1.39 Million in Maplebear Inc. $CART

Key Points

• Kintayl Capital LP acquired 29,335 Maplebear shares during the second quarter, valued at approximately $1.39 million. Institutional investors collectively own 63.09% of CART.
• Analysts maintain a generally bullish outlook, with a consensus rating of “Moderate Buy” and an average price target of $55.90; several firms recently raised targets to $63.
• Maplebear’s latest quarterly revenue rose 14.1% year over year to $1.04 billion, exceeding estimates, but earnings per share of $0.45 missed expectations of $0.54. The stock opened at $51.51, near its 52-week high of $52.05.

Kintayl Capital LP acquired a new position in Maplebear Inc. (NASDAQ:CART - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 29,335 shares of the company's stock, valued at approximately $1,389,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CART. Pinnacle Bancorp Inc. purchased a new position in shares of Maplebear in the first quarter worth about $25,000. PenderFund Capital Management Ltd. purchased a new stake in Maplebear during the 4th quarter worth about $27,000. Allworth Financial LP lifted its position in Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company's stock valued at $34,000 after purchasing an additional 244 shares during the last quarter. IFP Advisors Inc lifted its holdings 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 acquiring an additional 845 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Maplebear by 212.7% in 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 in the last quarter. 63.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wedbush began coverage on shares of Maplebear in a research note on Thursday, July 16th. They issued an "outperform" rating and a $59.00 price objective for the company. Cantor Fitzgerald lifted their price target on Maplebear from $56.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Needham & Company LLC boosted their price objective on Maplebear from $55.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Benchmark increased their price objective on Maplebear from $55.00 to $63.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Maplebear in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $55.90.

Maplebear Price Performance

NASDAQ CART opened at $51.51 on Wednesday. The business's 50-day moving average is $46.95 and its 200 day moving average is $41.91. The stock has a market capitalization of $11.92 billion, a PE ratio of 28.15, a PEG ratio of 0.76 and a beta of 0.78. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $52.05.

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

Insiders Place Their Bets

In related news, Director Ravi Gupta sold 150,000 shares of Maplebear stock in a transaction 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 sale, the director owned 591,523 shares in the company, valued at $29,936,979.03. The trade was a 20.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 24.00% of the stock is currently owned by company insiders.

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.

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).

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