Lecap Asset Management Ltd. Reduces Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Lecap Asset Management Ltd. cut its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 28.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CART. Victory Capital Management Inc. boosted its stake in Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock valued at $187,495,000 after buying an additional 4,487,654 shares during the last quarter. Boston Partners bought a new position in Maplebear during the fourth quarter valued at approximately $111,506,000. Altimeter Capital Management LP purchased a new stake in Maplebear during the fourth quarter valued at approximately $105,108,000. Vanguard Group Inc. raised its position in Maplebear by 16.8% during the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock valued at $661,409,000 after purchasing an additional 2,300,288 shares during the period. Finally, Norges Bank purchased a new stake in Maplebear during the fourth quarter valued at approximately $95,162,000. 63.09% of the stock is owned by institutional investors.

Insider Transactions at Maplebear

In other news, CEO Fidji Simo sold 8,133 shares of the business's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the transaction, the chief executive officer now directly owns 1,646,426 shares of the company's stock, valued at approximately $68,491,321.60. The trade was a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Morgan Fong sold 4,680 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $43.90, for a total value of $205,452.00. Following the completion of the transaction, the general counsel now directly owns 456,680 shares of the company's stock, valued at approximately $20,048,252. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,287 shares of company stock valued at $967,711. Corporate insiders own 26.00% of the company's stock.

Maplebear Stock Performance

CART traded down $0.08 during trading on Friday, hitting $44.86. 2,823,314 shares of the stock were exchanged, compared to its average volume of 3,985,792. The firm has a 50 day simple moving average of $44.41 and a 200 day simple moving average of $43.76. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 29.51, a P/E/G ratio of 1.89 and a beta of 1.30. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company decreased their price objective on Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. JMP Securities restated a "market outperform" rating and set a $55.00 price objective on shares of Maplebear in a research report on Thursday, June 12th. Jefferies Financial Group upped their price objective on Maplebear from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. decreased their price objective on Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Wall Street Zen downgraded Maplebear from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Thirteen equities 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 company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.91.

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.