Lecap Asset Management Ltd. Acquires New Stake in Maplebear Inc. $CART

Key Points

• Lecap Asset Management bought 51,918 shares of Maplebear (NASDAQ:CART) in Q4 worth about $2.34 million, making CART 0.9% of Lecap’s portfolio and its ninth-largest holding.
• Company insiders have been selling: CAO Lisa Blackwood‑Kapral sold 9,390 shares at $40.25 and General Counsel Morgan Fong sold 126,083 shares at $37.09, with insiders offloading 144,863 shares (~$5.42M) over the last 90 days while still owning 26% of the company.
• Wall Street sentiment is generally positive — consensus rating is a Moderate Buy with an average target of $51.29 — and Maplebear trades near $41.39 with a $9.8 billion market cap, PE of 26.03 and PEG of 0.64.

Lecap Asset Management Ltd. acquired a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,918 shares of the company's stock, valued at approximately $2,335,000. Maplebear comprises 0.9% of Lecap Asset Management Ltd.'s portfolio, making the stock its 9th biggest holding.

A number of other hedge funds also recently bought and sold shares of CART. Royal Bank of Canada increased its position in Maplebear by 51.2% during the first quarter. Royal Bank of Canada now owns 131,789 shares of the company's stock valued at $5,256,000 after acquiring an additional 44,642 shares during the last quarter. NewEdge Advisors LLC increased its position in Maplebear by 71.6% in the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company's stock worth $67,000 after buying an additional 698 shares in the last quarter. Jones Financial Companies Lllp increased its position in Maplebear by 358.5% in the first quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company's stock worth $128,000 after buying an additional 2,502 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Maplebear by 17.4% in the first quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company's stock worth $15,585,000 after buying an additional 57,879 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in Maplebear in the first quarter worth about $268,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Insider Buying and Selling

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the sale, the chief accounting officer directly owned 58,971 shares in the company, valued at $2,373,582.75. This represents a 13.74% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 company's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the sale, the general counsel owned 386,643 shares in the company, valued at approximately $14,340,588.87. This trade represents a 24.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 144,863 shares of company stock worth $5,418,135. Company insiders own 26.00% of the company's stock.

Maplebear Trading Down 0.8%

Shares of Maplebear stock opened at $41.39 on Friday. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50. The stock has a 50 day moving average of $37.63 and a 200 day moving average of $39.60. The firm has a market cap of $9.80 billion, a PE ratio of 26.03, a PEG ratio of 0.64 and a beta of 0.88.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CART. Weiss Ratings restated a "hold (c)" rating on shares of Maplebear in a research report on Monday, December 29th. Wells Fargo & Company upped their price objective on Maplebear from $43.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, March 30th. Raymond James Financial raised Maplebear from a "hold" rating to a "moderate buy" rating in a research note on Thursday, April 9th. Jefferies Financial Group raised Maplebear from a "hold" rating to a "buy" rating and upped their price objective for the stock from $38.00 to $45.00 in a research note on Monday, March 30th. Finally, Stifel Nicolaus dropped their price objective on Maplebear from $49.00 to $46.00 and set a "buy" rating for the company in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.29.

Maplebear Company 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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