Quantedge Capital Pte Ltd Makes New $6.43 Million Investment in Maplebear Inc. (NASDAQ:CART)

Quantedge Capital Pte Ltd bought a new position in Maplebear Inc. (NASDAQ:CART - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 155,200 shares of the company's stock, valued at approximately $6,428,000. Maplebear makes up approximately 2.3% of Quantedge Capital Pte Ltd's portfolio, making the stock its 8th largest holding. Quantedge Capital Pte Ltd owned 0.06% of Maplebear as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in Maplebear during the 4th quarter valued at approximately $1,166,000. Paragon Capital Management Ltd increased its holdings in shares of Maplebear by 33.3% in the 4th quarter. Paragon Capital Management Ltd now owns 12,740 shares of the company's stock worth $528,000 after purchasing an additional 3,185 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Maplebear in the 4th quarter worth $1,401,000. Janney Montgomery Scott LLC increased its holdings in shares of Maplebear by 212.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock worth $992,000 after purchasing an additional 16,267 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. increased its holdings in shares of Maplebear by 70.1% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 18,628 shares of the company's stock worth $829,000 after purchasing an additional 7,680 shares in the last quarter. Institutional investors own 63.09% of the company's stock.

Insider Activity

In other news, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total value of $223,449.93. Following the sale, the general counsel now directly owns 484,292 shares of the company's stock, valued at approximately $20,616,310.44. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 8,133 shares of Maplebear stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the sale, the chief executive officer now directly owns 1,646,426 shares in the company, valued at $68,491,321.60. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock worth $1,541,785 over the last ninety days. Corporate insiders own 26.00% of the company's stock.

Maplebear Stock Performance

Shares of Maplebear stock traded up $1.54 during trading hours on Friday, hitting $45.66. The company's stock had a trading volume of 2,998,841 shares, compared to its average volume of 4,072,999. The business has a 50 day moving average price of $41.16 and a two-hundred day moving average price of $43.54. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The company has a market cap of $11.99 billion, a PE ratio of 30.64, a PEG ratio of 1.19 and a beta of 1.19.

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

Analysts Set New Price Targets

A number of research firms have commented on CART. Wells Fargo & Company reduced their target price on Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Benchmark reissued a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. Cantor Fitzgerald reissued an "overweight" rating and issued a $55.00 target price on shares of Maplebear in a report on Wednesday, February 26th. Needham & Company LLC reissued a "buy" rating and issued a $56.00 target price on shares of Maplebear in a report on Friday, May 2nd. Finally, Citigroup raised their price target on Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday. Twelve analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $51.04.

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.