Maplebear Inc. $CART Shares Purchased by Kingdon Capital Management L.L.C.

Key Points

• Kingdon Capital Management increased its stake in Maplebear Inc. by 3.1% during the first quarter, owning 330,000 shares worth approximately $13.16 million.
• Maplebear has experienced significant interest from institutional investors, with Vanguard Group and Victory Capital Management increasing their holdings by 3.4% and 62.8% respectively in the same quarter.
• The company reported $0.41 earnings per share for the last quarter, exceeding analysts' expectations and demonstrating a revenue increase of 11.1% year-over-year.

Kingdon Capital Management L.L.C. lifted its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 3.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 330,000 shares of the company's stock after buying an additional 10,000 shares during the quarter. Maplebear makes up about 1.4% of Kingdon Capital Management L.L.C.'s holdings, making the stock its 9th largest position. Kingdon Capital Management L.L.C. owned about 0.13% of Maplebear worth $13,164,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in Maplebear by 3.4% during the first quarter. Vanguard Group Inc. now owns 16,514,830 shares of the company's stock worth $658,777,000 after acquiring an additional 546,472 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Maplebear by 62.8% during the 1st quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company's stock worth $293,919,000 after purchasing an additional 2,841,559 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Maplebear by 10.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,226,979 shares of the company's stock worth $208,505,000 after purchasing an additional 482,327 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Maplebear by 85.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock worth $127,650,000 after purchasing an additional 1,416,426 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Maplebear by 15.0% in the 1st quarter. Federated Hermes Inc. now owns 2,832,384 shares of the company's stock valued at $112,984,000 after buying an additional 370,120 shares in the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Maplebear

In other 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 value of $230,068.80. Following the transaction, the general counsel directly owned 452,000 shares of the company's stock, valued at $22,220,320. The trade was a 1.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $47.75, for a total value of $232,268,988.00. The disclosure for this sale can be found here. Insiders have sold 4,975,327 shares of company stock valued at $237,736,848 in the last ninety days. Company insiders own 26.00% of the company's stock.

Maplebear Stock Performance

Maplebear stock traded up $0.49 during trading on Tuesday, reaching $43.86. The company had a trading volume of 4,463,730 shares, compared to its average volume of 4,376,042. Maplebear Inc. has a 12-month low of $33.17 and a 12-month high of $53.50. The stock's 50 day moving average price is $46.85 and its two-hundred day moving average price is $44.28. The firm has a market capitalization of $11.55 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.45 and a beta of 1.22.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein boosted their price target on Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Morgan Stanley lifted their price objective on Maplebear from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Friday, August 15th. Bank of America upped their target price on shares of Maplebear from $53.00 to $58.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of Maplebear from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Robert W. Baird reduced their price objective on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Maplebear has a consensus rating of "Moderate Buy" and an average target price of $55.63.

About Maplebear

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.