Maverick Capital Ltd. Has $72.10 Million Holdings in Maplebear Inc. (NASDAQ:CART)

Maverick Capital Ltd. trimmed its stake in Maplebear Inc. (NASDAQ:CART) by 5.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,243,269 shares of the company’s stock after selling 126,513 shares during the period. Maplebear comprises about 1.4% of Maverick Capital Ltd.’s investment portfolio, making the stock its 25th biggest position. Maverick Capital Ltd.’s holdings in Maplebear were worth $72,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CART. Renaissance Capital LLC lifted its position in shares of Maplebear by 4.3% in the 1st quarter. Renaissance Capital LLC now owns 14,692 shares of the company’s stock worth $548,000 after acquiring an additional 607 shares during the period. Parallel Advisors LLC raised its position in Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after purchasing an additional 620 shares in the last quarter. nVerses Capital LLC lifted its stake in Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after purchasing an additional 1,600 shares during the period. Cantor Fitzgerald L. P. boosted its holdings in Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after purchasing an additional 2,489 shares in the last quarter. Finally, Great Valley Advisor Group Inc. grew its stake in shares of Maplebear by 32.1% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,300 shares of the company’s stock valued at $331,000 after purchasing an additional 2,500 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Price Performance

CART stock opened at $39.46 on Friday. Maplebear Inc. has a twelve month low of $22.13 and a twelve month high of $42.58. The business’s fifty day moving average is $35.12 and its 200-day moving average is $34.87.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. The firm had revenue of $823.00 million for the quarter, compared to analyst estimates of $806.35 million. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. The company’s revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts forecast that Maplebear Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Maplebear in a research note on Monday. Wolfe Research initiated coverage on shares of Maplebear in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. KeyCorp began coverage on Maplebear in a research report on Thursday, July 11th. They set a “sector weight” rating on the stock. Piper Sandler lifted their price objective on Maplebear from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Benchmark restated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Insider Activity at Maplebear

In related news, CAO Alan Ramsay sold 2,626 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $91,962.52. Following the completion of the transaction, the chief accounting officer now owns 107,910 shares in the company, valued at $3,779,008.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Alan Ramsay sold 2,626 shares of Maplebear stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $91,962.52. Following the transaction, the chief accounting officer now directly owns 107,910 shares of the company’s stock, valued at $3,779,008.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Fidji Simo sold 33,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the completion of the transaction, the chief executive officer now directly owns 1,844,778 shares of the company’s stock, valued at approximately $65,065,320.06. The disclosure for this sale can be found here. Insiders have sold 67,655 shares of company stock worth $2,504,824 in the last ninety days. Company insiders own 36.00% of the company’s stock.

About Maplebear

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.