Sculptor Capital LP Has $66.69 Million Stake in Maplebear Inc. $CART

Key Points

• Sculptor Capital LP has reduced its stake in Maplebear Inc. (CART) by 11.4%, owning approximately 1.3% of the company with a current value of $66.7 million.
• Insider trading activity showed significant sales, with General Counsel Morgan Fong selling 4,680 shares for $230,068.80 and insider Grosvenor L.P. Gcm selling 4.86 million shares valued at approximately $232.3 million.
• Analysts have set new price targets for Maplebear, with many increasing their estimates, resulting in a current average target price of $55.63 and a consensus rating of "Moderate Buy".

Sculptor Capital LP decreased its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,671,788 shares of the company's stock after selling 214,212 shares during the quarter. Maplebear comprises about 1.3% of Sculptor Capital LP's investment portfolio, making the stock its 21st largest holding. Sculptor Capital LP owned about 0.64% of Maplebear worth $66,688,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CART. Proathlete Wealth Management LLC acquired a new position in shares of Maplebear during the first quarter valued at $26,000. NewEdge Advisors LLC boosted its holdings in shares of 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 acquiring an additional 717 shares during the period. UMB Bank n.a. boosted its holdings in shares of Maplebear by 914.1% during the first quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after acquiring an additional 905 shares during the period. Brooklyn Investment Group acquired a new position in shares of Maplebear during the first quarter valued at $40,000. Finally, Spire Wealth Management acquired a new position in shares of Maplebear during the first quarter valued at $41,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CART shares. Benchmark raised shares of Maplebear from a "hold" rating to a "buy" rating and set a $67.00 price objective for the company in a report on Friday, August 8th. JMP Securities upped their price objective on shares of Maplebear from $55.00 to $60.00 and gave the stock a "market outperform" rating in a report on Friday, August 8th. Stifel Nicolaus upped their price objective on shares of Maplebear from $55.00 to $64.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Wedbush reaffirmed an "underperform" rating and issued a $42.00 price objective (down previously from $55.00) on shares of Maplebear in a report on Thursday, August 21st. Finally, Jefferies Financial Group upped their price objective on shares of Maplebear from $50.00 to $55.00 and gave the stock a "hold" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Maplebear presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.63.

Insider Activity

In other news, Director Levien Meredith A. Kopit sold 4,225 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $47.45, for a total value of $200,476.25. Following the transaction, the director owned 20,829 shares in the company, valued at $988,336.05. This represents a 16.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Danker sold 10,037 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $48.82, for a total value of $490,006.34. Following the completion of the transaction, the insider owned 470,190 shares in the company, valued at $22,954,675.80. This represents a 2.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,975,327 shares of company stock worth $237,736,848. 26.00% of the stock is owned by company insiders.

Maplebear Price Performance

NASDAQ CART traded down $0.48 on Monday, hitting $43.37. 3,111,388 shares of the company were exchanged, compared to its average volume of 5,852,252. The company's 50 day moving average price is $46.85 and its 200-day moving average price is $44.28. The firm has a market capitalization of $11.43 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Maplebear Inc. has a twelve month low of $33.17 and a twelve month high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $914.00 million for the quarter, compared to the consensus estimate of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.20 EPS. As a group, equities analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

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.