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

Lecap Asset Management Ltd. decreased its stake in Maplebear Inc. (NASDAQ:CART) by 52.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proathlete Wealth Management LLC bought a new position in shares of Maplebear during the 1st quarter valued at $26,000. Brooklyn Investment Group bought a new position in shares of Maplebear during the 1st quarter valued at $40,000. UMB Bank n.a. grew its holdings in shares of Maplebear by 914.1% during the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock valued at $40,000 after purchasing an additional 905 shares during the last quarter. Spire Wealth Management bought a new position in shares of Maplebear during the 1st quarter valued at $41,000. Finally, CWM LLC grew its holdings in shares of Maplebear by 35.1% during the 1st quarter. CWM LLC now owns 1,058 shares of the company’s stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Insider Activity

In other news, Director Fidji Simo sold 7,140 shares of Maplebear stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.30, for a total transaction of $337,722.00. Following the sale, the director owned 573,807 shares of the company’s stock, valued at approximately $27,141,071.10. The trade was a 1.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 3,546 shares of Maplebear stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $42.39, for a total transaction of $150,314.94. Following the sale, the general counsel directly owned 431,069 shares in the company, valued at $18,273,014.91. The trade was a 0.82% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,986,367 shares of company stock worth $238,211,261. 26.00% of the stock is owned by company insiders.

Maplebear Trading Up 1.9%

Shares of CART opened at $37.45 on Thursday. The firm’s 50-day moving average price is $45.12 and its 200-day moving average price is $44.29. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.23 and a beta of 1.11. Maplebear Inc. has a 1-year low of $34.87 and a 1-year high of $53.50.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CART shares. Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a report on Monday. Wedbush restated an “underperform” rating and issued a $42.00 price objective (down previously from $55.00) on shares of Maplebear in a research report on Thursday, August 21st. Bank of America boosted their price objective on shares of Maplebear from $53.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Stifel Nicolaus decreased their price objective on shares of Maplebear from $64.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Maplebear from $55.00 to $57.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.54.

About Maplebear

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.