Kintayl Capital LP Cuts Position in Maplebear Inc. $CART

Kintayl Capital LP trimmed its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 16.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,419 shares of the company’s stock after selling 14,584 shares during the period. Maplebear comprises 1.6% of Kintayl Capital LP’s investment portfolio, making the stock its 21st largest position. Kintayl Capital LP’s holdings in Maplebear were worth $2,662,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CART. Smartleaf Asset Management LLC raised its stake in shares of Maplebear by 9.6% in the 2nd 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 during the period. Rafferty Asset Management LLC lifted its holdings in shares of Maplebear by 2.5% during the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock valued at $498,000 after acquiring an additional 273 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position 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 purchasing an additional 304 shares during the period. Hantz Financial Services Inc. boosted its position in Maplebear by 78.6% during 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 period. Finally, ProShare Advisors LLC increased its holdings in Maplebear by 5.7% in the 2nd quarter. ProShare Advisors LLC now owns 7,284 shares of the company’s stock valued at $330,000 after purchasing an additional 390 shares in the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 126,083 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total value of $4,676,418.47. Following the completion of the transaction, the general counsel owned 386,643 shares of the company’s stock, valued at approximately $14,340,588.87. This represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 26.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CART. Weiss Ratings restated a “hold (c)” rating on shares of Maplebear in a research note on Monday, December 29th. Argus upgraded Maplebear to a “strong-buy” rating in a research note on Thursday, March 5th. Needham & Company LLC raised their target price on Maplebear from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 13th. Benchmark reduced their price target on Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Finally, Stifel Nicolaus decreased their price target on Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.04.

Maplebear Price Performance

NASDAQ:CART opened at $38.76 on Tuesday. The firm has a 50-day moving average of $37.90 and a two-hundred day moving average of $40.42. The stock has a market cap of $9.33 billion, a P/E ratio of 24.38, a PEG ratio of 0.58 and a beta of 0.98. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50.

Maplebear 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.