AXQ Capital LP Buys Shares of 23,417 Maplebear Inc. $CART

AXQ Capital LP purchased a new position in Maplebear Inc. (NASDAQ:CART) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 23,417 shares of the company’s stock, valued at approximately $861,000.

Other institutional investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. increased its position in shares of Maplebear by 8.6% during the third quarter. Ameritas Investment Partners Inc. now owns 34,567 shares of the company’s stock worth $1,271,000 after buying an additional 2,723 shares during the period. Aurora Investment Counsel acquired a new position in Maplebear in the third quarter valued at $2,132,000. Alliance Wealth Advisors LLC UT lifted its holdings in Maplebear by 5.0% in the third quarter. Alliance Wealth Advisors LLC UT now owns 15,290 shares of the company’s stock valued at $562,000 after buying an additional 729 shares during the period. ANTIPODES PARTNERS Ltd bought a new stake in Maplebear during the third quarter valued at $417,000. Finally, Hillsdale Investment Management Inc. grew its holdings in Maplebear by 18.8% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 22,100 shares of the company’s stock worth $812,000 after acquiring an additional 3,500 shares during the period. 63.09% of the stock is owned by institutional investors.

Maplebear Stock Down 0.2%

NASDAQ CART opened at $36.16 on Tuesday. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $53.50. The business has a 50 day moving average price of $40.15 and a 200-day moving average price of $41.27. The company has a market cap of $9.49 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 0.55 and a beta of 1.00.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total value of $222,161.94. Following the transaction, the general counsel directly owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. This trade represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 26.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CART shares. Benchmark dropped their price objective on Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. BMO Capital Markets upgraded Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a report on Tuesday, November 11th. Citigroup dropped their price target on Maplebear from $65.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Wall Street Zen upgraded Maplebear from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Fox Advisors downgraded shares of Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Fifteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Maplebear has a consensus rating of “Hold” and an average target price of $51.38.

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.