Voleon Capital Management LP Has $763,000 Position in Maplebear Inc. $CART

Key Points

• Voleon Capital Management LP has significantly reduced its stake in Maplebear Inc. by 85.5%, selling over 112,000 shares, and now holds 19,131 shares valued at $763,000.
• Several other institutional investors, including Vanguard Group and Victory Capital Management, have increased their stakes in Maplebear, with total institutional ownership at 63.09%.
• Maplebear recently reported earnings that surpassed analyst expectations, with an EPS of $0.41 and revenue of $914 million, reflecting an 11.1% year-over-year increase.

Voleon Capital Management LP trimmed its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 85.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,131 shares of the company's stock after selling 112,827 shares during the period. Voleon Capital Management LP's holdings in Maplebear were worth $763,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CART. Proathlete Wealth Management LLC bought a new stake in shares of Maplebear in the first quarter valued at about $26,000. UMB Bank n.a. lifted its holdings in shares of Maplebear by 914.1% in the first quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after purchasing an additional 905 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Maplebear in the first quarter valued at about $40,000. Spire Wealth Management bought a new stake in shares of Maplebear in the first quarter valued at about $41,000. Finally, CWM LLC raised its holdings in Maplebear by 35.1% during the first quarter. CWM LLC now owns 1,058 shares of the company's stock worth $42,000 after acquiring an additional 275 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wedbush reiterated an "underperform" rating and set a $42.00 target price (down previously from $55.00) on shares of Maplebear in a report on Thursday, August 21st. Wall Street Zen lowered Maplebear from a "buy" rating to a "hold" rating in a report on Saturday. Barclays boosted their price target on Maplebear from $61.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Needham & Company LLC boosted their price target on Maplebear from $56.00 to $66.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Loop Capital boosted their price target on Maplebear from $52.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Maplebear presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.71.

Insider Transactions at Maplebear

In other news, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $47.75, for a total value of $232,268,988.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Daniel Danker sold 10,037 shares of the company'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 value of $490,006.34. Following the completion of the transaction, the insider directly owned 470,190 shares in the company, valued at $22,954,675.80. The trade was a 2.09% decrease in their position. 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 three months. Company insiders own 26.00% of the company's stock.

Maplebear Stock Up 0.9%

Shares of Maplebear stock traded up $0.43 on Friday, hitting $46.36. The stock had a trading volume of 4,871,154 shares, compared to its average volume of 4,219,234. Maplebear Inc. has a twelve month low of $35.14 and a twelve month high of $53.50. The business's 50 day moving average is $46.82 and its two-hundred day moving average is $44.03. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 1.54 and a beta of 1.21.

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

Maplebear 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.