7,640 Shares in Maplebear Inc. (NASDAQ:CART) Bought by Fox Run Management L.L.C.

Fox Run Management L.L.C. acquired a new position in Maplebear Inc. (NASDAQ:CART - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,640 shares of the company's stock, valued at approximately $316,000.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in Maplebear by 5,191.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company's stock valued at $60,689,000 after purchasing an additional 1,461,501 shares in the last quarter. Cerity Partners LLC purchased a new position in Maplebear in the 3rd quarter valued at about $1,442,000. Blueshift Asset Management LLC acquired a new stake in Maplebear in the 3rd quarter worth about $788,000. Beaconlight Capital LLC increased its stake in Maplebear by 54.7% during the 3rd quarter. Beaconlight Capital LLC now owns 213,797 shares of the company's stock worth $8,710,000 after buying an additional 75,598 shares in the last quarter. Finally, FORA Capital LLC acquired a new position in shares of Maplebear during the third quarter valued at approximately $5,231,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now directly owns 1,662,692 shares of the company's stock, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,097 shares of company stock valued at $1,087,094. 36.00% of the stock is currently owned by company insiders.

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Maplebear Stock Performance

Shares of CART traded up $0.16 during midday trading on Monday, hitting $39.89. 2,888,286 shares of the stock were exchanged, compared to its average volume of 4,016,420. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The stock has a fifty day simple moving average of $44.46 and a 200 day simple moving average of $43.56. The firm has a market cap of $10.56 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.19 and a beta of 1.34.

Maplebear (NASDAQ:CART - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.16. The company had revenue of $883.00 million during the quarter, compared to analysts' expectations of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. As a group, equities research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analyst Ratings Changes

CART has been the subject of several research reports. Wedbush dropped their price target on Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. BMO Capital Markets upped their target price on shares of Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Loop Capital decreased their price target on shares of Maplebear from $56.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $56.00 price objective on shares of Maplebear in a research note on Wednesday, February 26th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $55.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Fourteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $50.25.

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.