Incline Global Management LLC Has $9.96 Million Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Incline Global Management LLC lessened its holdings in Maplebear Inc. (NASDAQ:CART) by 26.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 244,472 shares of the company’s stock after selling 88,471 shares during the period. Maplebear makes up about 4.4% of Incline Global Management LLC’s investment portfolio, making the stock its 9th largest position. Incline Global Management LLC owned about 0.09% of Maplebear worth $9,960,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Maplebear by 239.1% in the 1st quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock worth $7,961,000 after purchasing an additional 150,544 shares during the period. Industry Ventures L.L.C. grew its holdings in shares of Maplebear by 3.3% during the second quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock worth $31,512,000 after buying an additional 31,175 shares during the last quarter. Renaissance Capital LLC boosted its position in shares of Maplebear by 952.3% during the 2nd quarter. Renaissance Capital LLC now owns 154,604 shares of the company’s stock worth $4,969,000 after purchasing an additional 139,912 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Maplebear during the 2nd quarter worth approximately $327,000. Finally, Great Valley Advisor Group Inc. grew its holdings in 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 buying an additional 2,500 shares during the period. Institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling at Maplebear

In related news, General Counsel Morgan Fong sold 29,253 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $48.03, for a total value of $1,405,021.59. Following the completion of the transaction, the general counsel now directly owns 258,406 shares of the company’s stock, valued at approximately $12,411,240.18. This trade represents a 10.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $42.97, for a total value of $891,627.50. Following the completion of the sale, the chief executive officer now directly owns 1,804,243 shares of the company’s stock, valued at approximately $77,528,321.71. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,954 shares of company stock valued at $4,890,405 in the last quarter. Company insiders own 36.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CART shares. Jefferies Financial Group started coverage on shares of Maplebear in a report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 target price on the stock. Raymond James started coverage on shares of Maplebear in a research note on Tuesday, September 24th. They set a “market perform” rating on the stock. Benchmark reissued a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. BMO Capital Markets raised their target price on shares of Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus upped their price objective on shares of Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Thirteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.82.

Maplebear Stock Down 0.4 %

Shares of CART traded down $0.16 during mid-day trading on Tuesday, reaching $43.51. 3,980,362 shares of the stock traded hands, compared to its average volume of 4,449,468. The firm has a market cap of $11.18 billion, a price-to-earnings ratio of 29.20, a P/E/G ratio of 1.13 and a beta of 0.94. The stock has a fifty day simple moving average of $43.20 and a 200 day simple moving average of $37.14. Maplebear Inc. has a 12-month low of $22.13 and a 12-month high of $50.01.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same period in the previous year, the company earned ($20.86) earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

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.