Brevan Howard Capital Management LP Invests $3.04 Million in Maplebear Inc. (NASDAQ:CART)

Brevan Howard Capital Management LP bought a new stake in Maplebear Inc. (NASDAQ:CART) during the 4th quarter, HoldingsChannel reports. The fund bought 73,434 shares of the company’s stock, valued at approximately $3,042,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CART. Jones Financial Companies Lllp lifted its position in Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after purchasing an additional 222 shares during the period. Allworth Financial LP lifted its holdings in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after buying an additional 420 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Maplebear by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 8,554 shares of the company’s stock valued at $354,000 after buying an additional 440 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of Maplebear by 2.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 32,393 shares of the company’s stock valued at $1,342,000 after buying an additional 648 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after acquiring an additional 717 shares during the period. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Morgan Fong sold 5,249 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the transaction, the general counsel now owns 484,292 shares of the company’s stock, valued at approximately $20,616,310.44. This represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 8,133 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $41.60, for a total transaction of $338,332.80. Following the transaction, the chief executive officer now directly owns 1,646,426 shares in the company, valued at approximately $68,491,321.60. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,165 shares of company stock valued at $1,541,785 in the last 90 days. 26.00% of the stock is currently owned by insiders.

Maplebear Stock Performance

CART stock opened at $47.09 on Tuesday. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The stock has a market capitalization of $12.36 billion, a P/E ratio of 31.60, a PEG ratio of 1.19 and a beta of 1.19. The company has a 50 day moving average price of $40.18 and a two-hundred day moving average price of $43.50.

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

Wall Street Analyst Weigh In

CART has been the subject of a number of recent analyst reports. Barclays raised their target price on Maplebear from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Friday. Seaport Res Ptn upgraded shares of Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald restated an “overweight” rating and set a $55.00 target price on shares of Maplebear in a research report on Wednesday, February 26th. Benchmark reaffirmed a “hold” rating on shares of Maplebear in a report on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their price target on Maplebear from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 3rd. Twelve research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and a consensus price target of $50.61.

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.