Hodges Capital Management Inc. Sells 33,150 Shares of Maplebear Inc. (NASDAQ:CART)

Hodges Capital Management Inc. trimmed its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 41.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,900 shares of the company's stock after selling 33,150 shares during the quarter. Hodges Capital Management Inc.'s holdings in Maplebear were worth $1,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in CART. CIBC Asset Management Inc boosted its stake in shares of Maplebear by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company's stock worth $331,000 after acquiring an additional 286 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in Maplebear by 1.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company's stock worth $1,294,000 after purchasing an additional 490 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Maplebear by 5.1% during the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company's stock worth $493,000 after purchasing an additional 584 shares during the period. Pier Capital LLC raised its position in shares of Maplebear by 0.4% in the third quarter. Pier Capital LLC now owns 151,604 shares of the company's stock valued at $6,176,000 after purchasing an additional 616 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Maplebear in the third quarter worth $33,000. Institutional investors own 63.09% of the company's stock.

Maplebear Stock Performance

Shares of NASDAQ CART traded up $0.62 during midday trading on Friday, reaching $49.21. 2,542,468 shares of the company traded hands, compared to its average volume of 4,283,458. Maplebear Inc. has a 12 month low of $24.43 and a 12 month high of $50.11. The stock's 50-day simple moving average is $44.50 and its 200-day simple moving average is $40.99. The firm has a market cap of $12.64 billion, a PE ratio of 33.03, a PEG ratio of 1.09 and a beta of 1.07.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.20. The firm had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm's quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm posted ($20.86) EPS. On average, equities research analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Activity

In related 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 directly owns 85,421 shares of the company's stock, valued at $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the sale, the chief executive officer now directly owns 1,771,993 shares in the company, valued at approximately $75,734,980.82. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,555 shares of company stock worth $2,164,787. Insiders own 36.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CART. Piper Sandler lifted their target price on shares of Maplebear from $50.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. JMP Securities lifted their price objective on Maplebear from $42.00 to $51.00 and gave the stock a "market outperform" rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Maplebear in a research report on Tuesday, December 3rd. They set a "hold" rating and a $37.00 price objective for the company. Barclays raised their target price on Maplebear from $48.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Finally, Loop Capital upped their price target on Maplebear from $49.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Maplebear presently has a consensus rating of "Moderate Buy" and an average price target of $48.96.

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.