Rokos Capital Management LLP Invests $6.11 Million in Maplebear Inc. $CART

by · The Markets Daily

Rokos Capital Management LLP bought a new stake in shares of Maplebear Inc. (NASDAQ:CART – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 135,150 shares of the company’s stock, valued at approximately $6,114,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC acquired a new stake in Maplebear during the first quarter valued at $2,161,000. PNC Financial Services Group Inc. boosted its stake in shares of Maplebear by 214.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,678 shares of the company’s stock worth $426,000 after acquiring an additional 7,279 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in shares of Maplebear by 14.0% during the 1st quarter. Atria Wealth Solutions Inc. now owns 20,247 shares of the company’s stock valued at $808,000 after acquiring an additional 2,482 shares during the period. Vanguard Group Inc. increased its stake in shares of Maplebear by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 16,514,830 shares of the company’s stock valued at $658,777,000 after purchasing an additional 546,472 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Maplebear by 54.6% in the 1st quarter. Swiss National Bank now owns 273,700 shares of the company’s stock worth $10,918,000 after purchasing an additional 96,700 shares during the period. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Performance

NASDAQ CART opened at $43.49 on Thursday. The business has a fifty day moving average price of $39.80 and a 200 day moving average price of $43.60. The company has a market cap of $11.42 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.51 and a beta of 1.01. Maplebear Inc. has a one year low of $34.78 and a one year high of $53.50.

Maplebear (NASDAQ:CART – Get Free Report) last released its earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $939.00 million during the quarter, compared to analyst estimates of $933.76 million. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share. As a group, sell-side analysts predict that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CART has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on Maplebear from $57.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Friday, October 3rd. Fox Advisors upgraded Maplebear from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Needham & Company LLC dropped their price target on shares of Maplebear from $66.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Benchmark reduced their price objective on shares of Maplebear from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Maplebear from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Maplebear presently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Get Our Latest Stock Analysis on Maplebear

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 3,546 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $38.85, for a total transaction of $137,762.10. Following the completion of the sale, the general counsel owned 427,523 shares of the company’s stock, valued at approximately $16,609,268.55. This represents a 0.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fidji Simo sold 1,014 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $40.00, for a total transaction of $40,560.00. Following the completion of the transaction, the director directly owned 569,742 shares in the company, valued at $22,789,680. This trade represents a 0.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 27,556 shares of company stock valued at $1,179,482. Corporate insiders own 26.00% of the company’s stock.

Maplebear Profile

(Free Report)

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.

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