AXQ Capital LP Sells 13,417 Shares of Maplebear Inc. $CART

AXQ Capital LP lessened its stake in shares of Maplebear Inc. (NASDAQ:CART) by 57.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,000 shares of the company’s stock after selling 13,417 shares during the period. AXQ Capital LP’s holdings in Maplebear were worth $450,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Allworth Financial LP increased its stake in shares of Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after buying an additional 244 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Maplebear by 9.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after buying an additional 261 shares during the last quarter. Rafferty Asset Management LLC grew its holdings in Maplebear by 2.5% in the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after purchasing an additional 273 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in Maplebear by 5.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock valued at $236,000 after buying an additional 304 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in shares of Maplebear by 78.6% during the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after acquiring an additional 389 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Trading Up 3.8%

Shares of NASDAQ:CART opened at $41.48 on Friday. The business has a 50 day moving average of $40.41 and a two-hundred day moving average of $40.22. Maplebear Inc. has a 12-month low of $32.73 and a 12-month high of $53.50. The company has a market capitalization of $9.75 billion, a PE ratio of 23.17, a PEG ratio of 0.55 and a beta of 0.88.

Maplebear (NASDAQ:CART) last released its quarterly 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 for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $0.37 EPS. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities research analysts predict that Maplebear Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the sale, the director owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 126,083 shares of Maplebear stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the completion of the sale, the general counsel owned 386,643 shares in the company, valued at approximately $14,340,588.87. This trade represents a 24.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 325,863 shares of company stock worth $12,931,445 in the last quarter. Corporate insiders own 24.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CART shares. Barclays boosted their target price 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. Benchmark lowered their price objective on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Wells Fargo & Company boosted their price objective on shares of Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Argus upgraded Maplebear to a “strong-buy” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen cut Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.09.

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.