Incline Global Management LLC Buys Shares of 232,263 Maplebear Inc. (NASDAQ:CART)

Incline Global Management LLC bought a new stake in shares of Maplebear Inc. (NASDAQ:CART) during the 1st quarter, HoldingsChannel reports. The firm bought 232,263 shares of the company’s stock, valued at approximately $8,661,000. Maplebear comprises approximately 2.7% of Incline Global Management LLC’s investment portfolio, making the stock its 22nd largest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Renaissance Capital LLC grew its stake in shares of Maplebear by 4.3% in the 1st quarter. Renaissance Capital LLC now owns 14,692 shares of the company’s stock valued at $548,000 after buying an additional 607 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Maplebear by 139.3% in the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after buying an additional 620 shares in the last quarter. Cantor Fitzgerald L. P. lifted its holdings in Maplebear by 389.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Maplebear in the 4th quarter worth approximately $69,000. Finally, Industry Ventures L.L.C. lifted its holdings in Maplebear by 0.4% in the 1st quarter. Industry Ventures L.L.C. now owns 949,283 shares of the company’s stock worth $35,399,000 after purchasing an additional 3,939 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

NASDAQ:CART traded down $0.32 during trading hours on Tuesday, reaching $34.24. The company had a trading volume of 1,856,947 shares, compared to its average volume of 4,118,806. The stock has a 50-day moving average of $33.25 and a two-hundred day moving average of $32.78. Maplebear Inc. has a one year low of $22.13 and a one year high of $42.95.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.39. The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $794.08 million. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts predict that Maplebear Inc. will post 1.02 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 12,178 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $34.90, for a total transaction of $425,012.20. Following the sale, the chief accounting officer now owns 118,142 shares in the company, valued at $4,123,155.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Fidji Simo 8,500 shares of the stock in a transaction on Monday, July 29th. The was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Alan Ramsay sold 12,178 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $34.90, for a total value of $425,012.20. Following the sale, the chief accounting officer now owns 118,142 shares in the company, valued at approximately $4,123,155.80. The disclosure for this sale can be found here. Insiders have sold 68,802 shares of company stock worth $2,334,076 over the last three months. Company insiders own 36.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CART shares. Stifel Nicolaus upped their price target on Maplebear from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Wolfe Research started coverage on Maplebear in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Fox Advisors lowered Maplebear from an “overweight” rating to an “equal weight” rating in a report on Monday, April 1st. KeyCorp started coverage on Maplebear in a report on Thursday, July 11th. They set a “sector weight” rating for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a report on Tuesday, May 7th. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.60.

About Maplebear

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.