Intech Investment Management LLC Invests $4.30 Million in Maplebear Inc. $CART

Intech Investment Management LLC purchased a new position in Maplebear Inc. (NASDAQ:CART) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 95,493 shares of the company’s stock, valued at approximately $4,295,000.

Other hedge funds have also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in shares of Maplebear by 3,054.0% in the third quarter. Thrivent Financial for Lutherans now owns 1,407,993 shares of the company’s stock worth $51,758,000 after purchasing an additional 1,363,352 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Maplebear by 27.8% in the third quarter. JPMorgan Chase & Co. now owns 1,328,968 shares of the company’s stock worth $48,853,000 after purchasing an additional 288,839 shares during the last quarter. Kingdon Capital Management L.L.C. grew its holdings in shares of Maplebear by 40.6% in the third quarter. Kingdon Capital Management L.L.C. now owns 450,000 shares of the company’s stock worth $16,542,000 after purchasing an additional 130,000 shares during the last quarter. US Bancorp DE grew its holdings in shares of Maplebear by 17.0% in the fourth quarter. US Bancorp DE now owns 437,658 shares of the company’s stock worth $19,686,000 after purchasing an additional 63,666 shares during the last quarter. Finally, Ruffer LLP bought a new position in shares of Maplebear in the fourth quarter worth about $2,567,000. 63.09% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total transaction of $377,947.50. Following the transaction, the chief accounting officer owned 58,971 shares in the company, valued at $2,373,582.75. This represents a 13.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Morgan Fong sold 126,083 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the transaction, the general counsel owned 386,643 shares in the company, valued at approximately $14,340,588.87. This trade represents a 24.59% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 144,863 shares of company stock worth $5,418,135. Corporate insiders own 24.00% of the company’s stock.

Maplebear Stock Performance

CART stock opened at $42.20 on Tuesday. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 0.55 and a beta of 0.96. The firm has a 50-day simple moving average of $40.19 and a two-hundred day simple moving average of $40.21. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 earnings per share. As a group, equities analysts predict that Maplebear Inc. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CART shares. Raymond James Financial raised shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday, April 9th. Jefferies Financial Group raised shares of Maplebear from a “hold” rating to a “buy” rating and upped their price objective for the stock from $38.00 to $45.00 in a research note on Monday, March 30th. Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Barclays upped their price objective on shares of Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Company upped their price objective on shares of Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.09.

Maplebear Company Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.