Caxton Associates LLP Grows Position in Maplebear Inc. $CART

Caxton Associates LLP raised its holdings in Maplebear Inc. (NASDAQ:CART) by 260.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,418 shares of the company’s stock after acquiring an additional 38,616 shares during the period. Caxton Associates LLP’s holdings in Maplebear were worth $2,001,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sei Investments Co. raised its holdings in shares of Maplebear by 26.1% during the 1st quarter. Sei Investments Co. now owns 199,153 shares of the company’s stock worth $7,460,000 after acquiring an additional 41,270 shares during the period. Lido Advisors LLC lifted its stake in shares of Maplebear by 18.6% in the 1st quarter. Lido Advisors LLC now owns 27,345 shares of the company’s stock valued at $1,024,000 after purchasing an additional 4,293 shares during the last quarter. State of Wyoming grew its holdings in shares of Maplebear by 132.4% during the 1st quarter. State of Wyoming now owns 17,958 shares of the company’s stock worth $673,000 after purchasing an additional 10,230 shares during the period. Cetera Investment Advisers grew its holdings in shares of Maplebear by 9.1% during the 1st quarter. Cetera Investment Advisers now owns 11,963 shares of the company’s stock worth $448,000 after purchasing an additional 996 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Maplebear by 20.0% during the 1st quarter. First Trust Advisors LP now owns 611,302 shares of the company’s stock worth $22,899,000 after purchasing an additional 101,700 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the sale, the director directly owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 24.00% of the company’s stock.

Maplebear Trading Down 0.8%

CART stock opened at $42.21 on Friday. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50. The company’s 50 day moving average is $43.98 and its two-hundred day moving average is $40.64. The stock has a market cap of $9.92 billion, a P/E ratio of 23.58, a PEG ratio of 0.58 and a beta of 0.75.

Maplebear (NASDAQ:CART) last posted its earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the business earned $0.37 earnings per share. On average, equities research analysts predict that Maplebear Inc. will post 2.46 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on CART. Wells Fargo & Company upped their price objective on shares of Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday, April 9th. Jefferies Financial Group upgraded shares of Maplebear from a “hold” rating to a “buy” rating and boosted their price target for the stock from $38.00 to $45.00 in a research note on Monday, March 30th. Wall Street Zen raised Maplebear from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Barclays increased their price objective on Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.48.

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.