Lecap Asset Management Ltd. Has $3.18 Million Stock Position in Maplebear Inc. (NASDAQ:CART)

Lecap Asset Management Ltd. boosted its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 112.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 76,849 shares of the company’s stock after acquiring an additional 40,612 shares during the quarter. Maplebear accounts for about 0.9% of Lecap Asset Management Ltd.’s investment portfolio, making the stock its 18th largest holding. Lecap Asset Management Ltd.’s holdings in Maplebear were worth $3,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CART. Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear in the third quarter worth approximately $33,000. Huntington National Bank acquired a new position in Maplebear in the 3rd quarter valued at approximately $54,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Maplebear in the 3rd quarter worth approximately $74,000. KBC Group NV boosted its stake in shares of Maplebear by 56.5% during the 4th quarter. KBC Group NV now owns 3,808 shares of the company’s stock valued at $158,000 after buying an additional 1,374 shares during the period. Finally, Williams & Novak LLC purchased a new position in shares of Maplebear during the 4th quarter valued at $208,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of Maplebear stock opened at $48.59 on Friday. The firm has a market cap of $12.48 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07. The firm’s 50-day simple moving average is $44.50 and its 200-day simple moving average is $40.99. Maplebear Inc. has a twelve month low of $24.04 and a twelve month high of $50.11.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. The company had revenue of $852.00 million for the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned ($20.86) earnings per share. On average, equities analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CART has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft began coverage on Maplebear in a research note on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price target for the company. BMO Capital Markets boosted their price target on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Macquarie raised their price objective on shares of Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley boosted their target price on shares of Maplebear from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and an average price target of $48.96.

Insiders Place Their Bets

In related news, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total transaction of $92,261.82. Following the sale, the chief accounting officer now directly owns 89,982 shares in the company, valued at $3,694,660.92. This represents a 2.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $42.97, for a total value of $891,627.50. Following the sale, the chief executive officer now directly owns 1,804,243 shares of the company’s stock, valued at $77,528,321.71. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,555 shares of company stock worth $2,164,787 over the last three months. 36.00% of the stock is currently owned by corporate insiders.

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.