Man Group plc Acquires New Holdings in Maplebear Inc. (NASDAQ:CART)

Man Group plc acquired a new stake in Maplebear Inc. (NASDAQ:CART) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 362,697 shares of the company’s stock, valued at approximately $15,023,000.

A number of other institutional investors have also made changes to their positions in the stock. Numerai GP LLC raised its stake in shares of Maplebear by 51.3% in the 4th quarter. Numerai GP LLC now owns 43,079 shares of the company’s stock valued at $1,784,000 after acquiring an additional 14,611 shares in the last quarter. Maytus Capital Management LLC raised its stake in shares of Maplebear by 21.5% in the 4th quarter. Maytus Capital Management LLC now owns 151,828 shares of the company’s stock valued at $6,289,000 after acquiring an additional 26,828 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Maplebear in the 4th quarter valued at approximately $263,000. Invenomic Capital Management LP raised its stake in shares of Maplebear by 15.3% in the 4th quarter. Invenomic Capital Management LP now owns 351,974 shares of the company’s stock valued at $14,579,000 after acquiring an additional 46,807 shares in the last quarter. Finally, J. Goldman & Co LP bought a new position in shares of Maplebear in the 4th quarter valued at approximately $7,396,000. 63.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CART. FBN Securities began coverage on Maplebear in a research note on Friday, March 28th. They issued a “sector perform” rating and a $44.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $56.00 price objective on shares of Maplebear in a research note on Friday, May 2nd. Morgan Stanley lifted their price target on Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Oppenheimer dropped their price target on Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $55.00 price target on shares of Maplebear in a research report on Friday, April 11th. Twelve analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.04.

Maplebear Stock Up 3.5%

CART stock opened at $45.66 on Friday. The business has a 50 day moving average price of $41.16 and a two-hundred day moving average price of $43.53. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 30.64, a P/E/G ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Transactions at Maplebear

In related news, General Counsel Morgan Fong sold 5,249 shares of the business’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $42.57, for a total value of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares in the company, valued at $20,616,310.44. The trade was a 1.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the transaction, the chief executive officer now directly owns 1,654,559 shares of the company’s stock, valued at $66,182,360. This represents a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,165 shares of company stock worth $1,541,785. 26.00% of the stock is owned by company insiders.

Maplebear Company Profile

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.