25,000 Shares in Maplebear Inc. $CART Bought by Maytus Capital Management LLC

Maytus Capital Management LLC purchased a new position in shares of Maplebear Inc. (NASDAQ:CART) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $1,124,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its position in Maplebear by 1.0% during the 4th quarter. State Street Corp now owns 5,461,637 shares of the company’s stock worth $245,664,000 after purchasing an additional 54,872 shares during the period. Dimensional Fund Advisors LP boosted its position in Maplebear by 114.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock worth $170,594,000 after purchasing an additional 2,026,567 shares during the period. Viking Global Investors LP purchased a new stake in Maplebear during the 2nd quarter worth $169,782,000. Geode Capital Management LLC boosted its position in Maplebear by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company’s stock worth $158,640,000 after purchasing an additional 54,010 shares during the period. Finally, Federated Hermes Inc. boosted its position in Maplebear by 3.2% during the 4th quarter. Federated Hermes Inc. now owns 3,287,952 shares of the company’s stock worth $147,892,000 after purchasing an additional 101,278 shares during the period. 63.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CART shares. Barclays upped their price target on shares of Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Wells Fargo & Company upped their price objective on shares of Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Weiss Ratings raised shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen cut shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Jefferies Financial Group raised shares of Maplebear from a “hold” rating to a “buy” rating and upped their price objective for the company from $38.00 to $45.00 in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.09.

Insider Transactions at Maplebear

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 value of $377,947.50. Following the sale, the chief accounting officer owned 58,971 shares in the company, valued at approximately $2,373,582.75. This represents a 13.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the sale, the director owned 741,523 shares in the company, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 24.00% of the company’s stock.

Maplebear Stock Performance

Shares of Maplebear stock opened at $44.21 on Wednesday. The firm has a market cap of $10.39 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 0.58 and a beta of 0.88. The firm’s 50-day simple moving average is $41.16 and its 200-day simple moving average is $40.28. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $53.50.

Maplebear (NASDAQ:CART) last issued its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 EPS. On average, equities analysts predict that Maplebear Inc. will post 2.45 earnings per share for the current year.

About Maplebear

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.