Maplebear Inc. $CART Shares Purchased by Marathon Trading Investment Management LLC

Key Points

• Marathon Trading Investment Management LLC increased its stake in Maplebear Inc. by 163.2%, owning 25,000 shares after acquiring an additional 15,500 shares, valuing their holdings at approximately $997,000.
• Brokerages have recently upgraded their ratings on Maplebear, with Benchmark raising its target price to $67.00 and Jefferies increasing its target from $50.00 to $55.00.
• Maplebear's stock has reported a 2.7% decrease, with a 12-month range of $31.59 to $53.50, following a quarterly earnings report that beat estimates with a net margin of 13.76%.

Marathon Trading Investment Management LLC lifted its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 163.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,000 shares of the company's stock after purchasing an additional 15,500 shares during the period. Marathon Trading Investment Management LLC's holdings in Maplebear were worth $997,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Proathlete Wealth Management LLC purchased a new stake in shares of Maplebear in the first quarter worth $26,000. NewEdge Advisors LLC grew its position in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after buying an additional 717 shares during the period. UMB Bank n.a. increased its stake in shares of Maplebear by 914.1% in the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock worth $40,000 after purchasing an additional 905 shares in the last quarter. Spire Wealth Management purchased a new stake in Maplebear in the first quarter worth about $41,000. Finally, CWM LLC raised its stake in Maplebear by 35.1% during the 1st quarter. CWM LLC now owns 1,058 shares of the company's stock worth $42,000 after acquiring an additional 275 shares during the period. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Trading Up 1.3%

CART stock traded up $0.58 during mid-day trading on Tuesday, reaching $46.50. The company's stock had a trading volume of 5,650,790 shares, compared to its average volume of 4,360,347. Maplebear Inc. has a fifty-two week low of $32.18 and a fifty-two week high of $53.50. The company's 50 day moving average is $46.80 and its two-hundred day moving average is $44.67. The stock has a market cap of $12.25 billion, a PE ratio of 26.88, a P/E/G ratio of 1.46 and a beta of 1.21.

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

Insider Activity

In related news, Director Levien Meredith A. Kopit sold 4,225 shares of Maplebear stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $47.45, for a total transaction of $200,476.25. Following the completion of the sale, the director owned 20,829 shares in the company, valued at approximately $988,336.05. This trade represents a 16.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Danker sold 10,037 shares of the business's stock in a transaction that occurred 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 sale, the insider owned 470,190 shares of the company's stock, valued at approximately $22,954,675.80. The trade was a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,975,327 shares of company stock valued at $237,736,848 over the last three months. 26.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Robert W. Baird raised their price objective on Maplebear from $47.00 to $52.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Bank of America increased their price objective on Maplebear from $53.00 to $58.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Macquarie restated an "outperform" rating and issued a $55.00 price target on shares of Maplebear in a report on Tuesday, May 6th. Loop Capital raised their price objective on Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Finally, Jefferies Financial Group increased their price target on shares of Maplebear from $50.00 to $55.00 and gave the company a "hold" rating in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $55.46.

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.