Invenomic Capital Management LP Has $14.58 Million Stake in Maplebear Inc. (NASDAQ:CART)

Invenomic Capital Management LP lifted its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 15.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 351,974 shares of the company's stock after purchasing an additional 46,807 shares during the quarter. Invenomic Capital Management LP owned approximately 0.14% of Maplebear worth $14,579,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Maplebear by 16.8% during the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock valued at $661,409,000 after buying an additional 2,300,288 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Maplebear by 15.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company's stock worth $196,524,000 after purchasing an additional 635,930 shares during the last quarter. Victory Capital Management Inc. boosted its position in Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock worth $187,495,000 after purchasing an additional 4,487,654 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Maplebear by 85.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock worth $127,650,000 after purchasing an additional 1,416,426 shares during the period. Finally, Boston Partners acquired a new position in Maplebear during the fourth quarter valued at approximately $111,506,000. Institutional investors own 63.09% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CART. BMO Capital Markets boosted their price objective on shares of Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 26th. Macquarie restated an "outperform" rating and set a $55.00 price target on shares of Maplebear in a report on Tuesday, May 6th. Benchmark reaffirmed a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. JPMorgan Chase & Co. cut their price objective on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $56.00 target price on shares of Maplebear in a report on Friday, May 2nd. Twelve investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $51.04.

Insider Transactions at Maplebear

In other news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at $66,182,360. This represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Morgan Fong sold 5,249 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares of the company's stock, valued at approximately $20,616,310.44. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock valued at $1,541,785 in the last three months. 26.00% of the stock is owned by corporate insiders.

Maplebear Stock Up 2.0%

Maplebear stock traded up $0.90 during mid-day trading on Wednesday, hitting $45.21. 4,438,021 shares of the company were exchanged, compared to its average volume of 4,102,643. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The business has a fifty day moving average of $40.90 and a 200 day moving average of $43.54. The company has a market capitalization of $11.87 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 earnings per share. Research analysts expect that Maplebear Inc. will post 1.43 earnings per share 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.