Lecap Asset Management Ltd. Sells 28,517 Shares of Maplebear Inc. $CART

Lecap Asset Management Ltd. trimmed its position in Maplebear Inc. (NASDAQ:CART) by 52.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 26,135 shares of the company’s stock after selling 28,517 shares during the period. Lecap Asset Management Ltd.’s holdings in Maplebear were worth $1,182,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in Maplebear by 4,154.7% in the 1st quarter. Principal Financial Group Inc. now owns 372,581 shares of the company’s stock worth $14,862,000 after purchasing an additional 363,824 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Maplebear by 18.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $82,000 after purchasing an additional 322 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Maplebear by 7.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,166 shares of the company’s stock worth $246,000 after purchasing an additional 433 shares in the last quarter. Golden State Wealth Management LLC grew its position in Maplebear by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company’s stock worth $43,000 after purchasing an additional 533 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in Maplebear by 542.8% in the 1st quarter. New York State Teachers Retirement System now owns 101,720 shares of the company’s stock worth $4,058,000 after purchasing an additional 85,896 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CART. BTIG Research reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of Maplebear in a research report on Tuesday. Barclays boosted their target price on shares of Maplebear from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Wells Fargo & Company boosted their target price on shares of Maplebear from $55.00 to $57.00 and gave the company an “equal weight” rating in a research note on Friday, September 5th. Stifel Nicolaus dropped their target price on shares of Maplebear from $64.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. Finally, Needham & Company LLC boosted their target price on shares of Maplebear from $56.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.54.

Insiders Place Their Bets

In other news, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $47.75, for a total value of $232,268,988.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Chris Rogers sold 9,259 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $42.37, for a total transaction of $392,303.83. Following the completion of the transaction, the chief executive officer directly owned 739,880 shares in the company, valued at $31,348,715.60. The trade was a 1.24% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,986,367 shares of company stock worth $238,211,261. Company insiders own 26.00% of the company’s stock.

Maplebear Price Performance

NASDAQ CART opened at $37.45 on Thursday. Maplebear Inc. has a 1 year low of $34.87 and a 1 year high of $53.50. The stock has a market capitalization of $9.87 billion, a PE ratio of 21.65, a P/E/G ratio of 1.23 and a beta of 1.11. The company’s 50 day simple moving average is $45.12 and its two-hundred day simple moving average is $44.29.

Maplebear (NASDAQ:CART) last posted its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The business had revenue of $914.00 million for the quarter, compared to analysts’ expectations of $896.55 million. During the same period in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts anticipate that Maplebear Inc. will post 1.43 EPS 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.