Invenomic Capital Management LP Sells 210,078 Shares of Maplebear Inc. $CART

Invenomic Capital Management LP trimmed its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 43.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 269,326 shares of the company’s stock after selling 210,078 shares during the quarter. Invenomic Capital Management LP’s holdings in Maplebear were worth $12,114,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CART. Viking Global Investors LP bought a new position in Maplebear during the second quarter worth about $169,782,000. Marshall Wace LLP bought a new position in Maplebear during the fourth quarter worth about $126,206,000. Holocene Advisors LP bought a new position in Maplebear during the third quarter worth about $90,167,000. Norges Bank bought a new position in Maplebear during the fourth quarter worth about $97,221,000. Finally, Dimensional Fund Advisors LP increased its position in Maplebear by 114.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock worth $170,594,000 after acquiring an additional 2,026,567 shares during the period. 63.09% of the stock is owned by institutional investors.

Maplebear Stock Down 3.1%

CART stock opened at $42.82 on Thursday. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50. The firm has a market cap of $10.06 billion, a P/E ratio of 23.92, a P/E/G ratio of 0.61 and a beta of 0.88. The company’s 50-day moving average price is $41.19 and its two-hundred day moving average price is $40.28.

Maplebear (NASDAQ:CART) last released its 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). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business earned $0.37 earnings per share. Maplebear’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities analysts predict that Maplebear Inc. will post 2.45 EPS for the current year.

Insider Activity

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm’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 transaction, the chief accounting officer directly owned 58,971 shares of the company’s stock, valued at $2,373,582.75. This trade represents a 13.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the firm’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 transaction, the director directly owned 741,523 shares in the company, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 24.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on CART shares. Argus raised shares of Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Citizens Jmp reaffirmed a “market outperform” rating and set a $60.00 price target on shares of Maplebear in a research report on Monday. Weiss Ratings raised shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Raymond James Financial raised shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Maplebear in a research report on Thursday, May 7th. One equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.09.

Maplebear 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.