Kintayl Capital LP Makes New Investment in Maplebear Inc. $CART

Kintayl Capital LP bought a new position in Maplebear Inc. (NASDAQ:CART) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 29,335 shares of the company’s stock, valued at approximately $1,389,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE raised its holdings in Maplebear by 17.0% in the fourth quarter. US Bancorp DE now owns 437,658 shares of the company’s stock worth $19,686,000 after purchasing an additional 63,666 shares in the last quarter. Bank of America Corp DE grew its position in shares of Maplebear by 16.5% in the 1st quarter. Bank of America Corp DE now owns 1,562,097 shares of the company’s stock worth $58,516,000 after buying an additional 221,036 shares during the period. Horizon Investments LLC grew its position in shares of Maplebear by 263,556.8% in the 4th quarter. Horizon Investments LLC now owns 116,009 shares of the company’s stock worth $5,218,000 after buying an additional 115,965 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Maplebear by 67.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 128,611 shares of the company’s stock worth $5,783,000 after acquiring an additional 51,832 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in Maplebear during the 4th quarter valued at about $1,378,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling

In related news, Director Ravi Gupta sold 150,000 shares of Maplebear stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total value of $7,591,500.00. Following the completion of the sale, the director directly owned 591,523 shares in the company, valued at approximately $29,936,979.03. This trade represents a 20.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 24.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CART. Benchmark boosted their price objective on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. BNP Paribas Exane upgraded shares of Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 target price for the company in a report on Friday, August 7th. Citizens Jmp reissued a “market outperform” rating and issued a $60.00 price target on shares of Maplebear in a research report on Monday, June 15th. Wall Street Zen lowered Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Guggenheim lifted their price objective on Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.90.

Maplebear Trading Down 0.5%

Shares of CART opened at $51.51 on Wednesday. The business’s fifty day simple moving average is $46.95 and its two-hundred day simple moving average is $41.91. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $52.05. The company has a market cap of $11.92 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 0.76 and a beta of 0.78.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. As a group, research analysts forecast that Maplebear Inc. will post 2.33 EPS for the current year.

Maplebear Company 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.