Kintayl Capital LP Trims Holdings in Maplebear Inc. $CART

Kintayl Capital LP lowered its stake in shares of Maplebear Inc. (NASDAQ:CART) by 16.8% in the third quarter, Holdings Channel reports. The institutional investor owned 72,419 shares of the company’s stock after selling 14,584 shares during the quarter. Maplebear accounts for approximately 1.6% of Kintayl Capital LP’s portfolio, making the stock its 21st biggest position. Kintayl Capital LP’s holdings in Maplebear were worth $2,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CART. Smartleaf Asset Management LLC raised its holdings in Maplebear by 9.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock valued at $134,000 after acquiring an additional 261 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in Maplebear by 2.5% during the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after acquiring an additional 273 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Maplebear by 5.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock worth $236,000 after acquiring an additional 304 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after purchasing an additional 389 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Maplebear by 5.7% in the 2nd quarter. ProShare Advisors LLC now owns 7,284 shares of the company’s stock worth $330,000 after purchasing an additional 390 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

NASDAQ CART opened at $38.76 on Tuesday. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50. The company has a 50-day simple moving average of $37.90 and a 200-day simple moving average of $40.42. The firm has a market capitalization of $9.33 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 0.58 and a beta of 0.98.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Needham & Company LLC increased their price target on shares of Maplebear from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a report on Monday, December 29th. Stifel Nicolaus cut their price objective on Maplebear from $49.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Jefferies Financial Group increased their target price on Maplebear from $41.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, December 11th. Finally, Fox Advisors lowered Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $51.04.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 126,083 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the transaction, the general counsel owned 386,643 shares of the company’s stock, valued at $14,340,588.87. This trade represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 26.00% of the stock is currently owned by company insiders.

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.