Nishkama Capital LLC Has $10.21 Million Position in Maplebear Inc. $CART

Key Points

• Nishkama Capital LLC has reduced its stake in Maplebear Inc. (NASDAQ:CART) by 20.0%, selling 63,801 shares during the first quarter and now holding 256,000 shares valued at approximately $10.2 million.
• Principal Financial Group Inc. significantly increased its stake in Maplebear by 4,154.7%, acquiring an additional 363,824 shares, making them a major institutional investor in the company.
• Maplebear's stock recently reported an earnings per share (EPS) of $0.41, surpassing the expected $0.39, and showed a year-over-year revenue increase of 11.1% amid market fluctuations.

Nishkama Capital LLC decreased its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 20.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 256,000 shares of the company's stock after selling 63,801 shares during the quarter. Maplebear makes up about 1.1% of Nishkama Capital LLC's holdings, making the stock its 12th biggest position. Nishkama Capital LLC owned approximately 0.10% of Maplebear worth $10,212,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Maplebear by 4,154.7% in the 1st quarter. Principal Financial Group Inc. now owns 372,581 shares of the company's stock worth $14,862,000 after buying an additional 363,824 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Maplebear by 18.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock valued at $82,000 after purchasing an additional 322 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Maplebear by 7.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,166 shares of the company's stock valued at $246,000 after purchasing an additional 433 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Maplebear by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company's stock valued at $43,000 after purchasing an additional 533 shares in the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of Maplebear by 542.8% during the 1st quarter. New York State Teachers Retirement System now owns 101,720 shares of the company's stock valued at $4,058,000 after purchasing an additional 85,896 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Stock Up 1.3%

NASDAQ CART traded up $0.56 during midday trading on Thursday, hitting $43.85. The company had a trading volume of 2,662,554 shares, compared to its average volume of 5,979,314. The stock has a market cap of $11.55 billion, a price-to-earnings ratio of 25.02, a P/E/G ratio of 1.45 and a beta of 1.21. The firm has a fifty day simple moving average of $46.85 and a two-hundred day simple moving average of $44.51. Maplebear Inc. has a fifty-two week low of $33.17 and a fifty-two week high of $53.50.

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

Insider Buying and Selling

In other news, Director Levien Meredith A. Kopit sold 4,225 shares of Maplebear stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $47.45, for a total transaction of $200,476.25. Following the sale, the director directly owned 20,829 shares in the company, valued at approximately $988,336.05. The trade was a 16.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Fidji Simo sold 6,640 shares of Maplebear stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $50.00, for a total transaction of $332,000.00. Following the sale, the chief executive officer owned 1,958,805 shares in the company, valued at approximately $97,940,250. This trade represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,975,327 shares of company stock worth $237,736,848. 26.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CART has been the topic of a number of recent research reports. Benchmark upgraded shares of Maplebear from a "hold" rating to a "buy" rating and set a $67.00 price target on the stock in a report on Friday, August 8th. Robert W. Baird cut their price target on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, August 22nd. Macquarie restated an "outperform" rating and set a $55.00 price target on shares of Maplebear in a report on Tuesday, May 6th. Wall Street Zen upgraded shares of Maplebear from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Loop Capital raised their price target on shares of Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a report on Monday, May 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Maplebear presently has a consensus rating of "Moderate Buy" and an average price target of $55.63.

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.