Lecap Asset Management Ltd. Sells 22,197 Shares of Maplebear Inc. (NASDAQ:CART)

Lecap Asset Management Ltd. cut its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 28.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,652 shares of the company's stock after selling 22,197 shares during the period. Lecap Asset Management Ltd.'s holdings in Maplebear were worth $2,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. grew its holdings in shares of Maplebear by 81.0% during the first quarter. Oppenheimer & Co. Inc. now owns 29,692 shares of the company's stock worth $1,184,000 after purchasing an additional 13,284 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Maplebear by 7.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,166 shares of the company's stock worth $246,000 after acquiring an additional 433 shares during the last quarter. Proathlete Wealth Management LLC acquired a new stake in Maplebear in the 1st quarter valued at about $26,000. Retirement Systems of Alabama bought a new position in shares of Maplebear in the first quarter worth about $15,760,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Maplebear during the first quarter worth approximately $756,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total value of $223,449.93. Following the sale, the general counsel now owns 484,292 shares of the company's stock, valued at $20,616,310.44. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Fidji Simo sold 8,133 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the sale, the chief executive officer now owns 1,646,426 shares in the company, valued at approximately $68,491,321.60. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,287 shares of company stock valued at $967,711. 26.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CART has been the subject of several research analyst reports. Barclays boosted their price objective on shares of Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Wall Street Zen lowered Maplebear from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. lowered their price objective on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Bank of America upped their target price on shares of Maplebear from $51.00 to $53.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Finally, Macquarie reaffirmed an "outperform" rating and issued a $55.00 target price on shares of Maplebear in a research note on Tuesday, May 6th. Thirteen research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Maplebear has an average rating of "Moderate Buy" and a consensus target price of $51.91.

Maplebear Trading Up 2.5%

CART stock opened at $44.97 on Wednesday. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The firm has a market cap of $11.81 billion, a PE ratio of 29.59, a P/E/G ratio of 1.85 and a beta of 1.30. The business's 50-day moving average price is $44.31 and its two-hundred day moving average price is $43.72.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). Maplebear had a net margin of 12.45% and a return on equity of 14.12%. The business had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. During the same quarter last year, the firm earned $0.43 EPS. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Maplebear Company 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.

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