Maverick Capital Ltd. Has $72.12 Million Stock Position in Maplebear Inc. $CART

Key Points

• Maverick Capital Ltd. reduced its stake in Maplebear Inc. by 7.6%, holding 1,807,975 shares after selling 148,209 shares in the first quarter.
• CEO Fidji Simo sold 66,560 shares at an average price of $50.01, resulting in a 3.28% decrease in their total holdings.
• Maplebear's recent earnings report showed a profit of $0.41 per share, exceeding estimates, with revenue reaching $914 million, up 11.1% year-over-year.

Maverick Capital Ltd. trimmed its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 7.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,807,975 shares of the company's stock after selling 148,209 shares during the quarter. Maplebear makes up 1.3% of Maverick Capital Ltd.'s holdings, making the stock its 25th largest position. Maverick Capital Ltd. owned about 0.69% of Maplebear worth $72,120,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Maplebear by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 16,514,830 shares of the company's stock valued at $658,777,000 after buying an additional 546,472 shares during the last quarter. Victory Capital Management Inc. grew its stake in Maplebear by 62.8% in the 1st quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company's stock valued at $293,919,000 after buying an additional 2,841,559 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Maplebear by 10.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,226,979 shares of the company's stock valued at $208,505,000 after buying an additional 482,327 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Maplebear by 85.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock valued at $127,650,000 after buying an additional 1,416,426 shares during the last quarter. Finally, Federated Hermes Inc. grew 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 during the last quarter. 63.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CART. Barclays upped their price target on shares of Maplebear from $61.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Stifel Nicolaus increased their target price on shares of Maplebear from $55.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Morgan Stanley increased their target price on shares of Maplebear from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Friday, August 15th. Robert W. Baird decreased their target price on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, August 22nd. Finally, Wedbush restated an "underperform" rating and set a $42.00 target price (down previously from $55.00) on shares of Maplebear in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $55.63.

Insider Buying and Selling at Maplebear

In other news, insider Daniel Danker sold 10,037 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $48.82, for a total transaction of $490,006.34. Following the completion of the transaction, the insider owned 470,190 shares of the company's stock, valued at approximately $22,954,675.80. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Morgan Fong sold 4,680 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $49.16, for a total transaction of $230,068.80. Following the sale, the general counsel owned 452,000 shares of the company's stock, valued at approximately $22,220,320. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,971,102 shares of company stock worth $237,536,372 over the last ninety days. Insiders own 26.00% of the company's stock.

Maplebear Trading Up 0.1%

NASDAQ:CART traded up $0.04 on Thursday, hitting $44.46. The company had a trading volume of 5,058,142 shares, compared to its average volume of 4,375,689. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.45 and a beta of 1.21. The firm has a 50 day moving average of $46.85 and a two-hundred day moving average of $44.28. Maplebear Inc. has a 52 week low of $33.17 and a 52 week high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $914.00 million during the quarter, compared to the consensus estimate of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 EPS. As a group, equities analysts forecast that Maplebear Inc. will post 1.43 EPS 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.