Xponance Inc. Purchases 1,205 Shares of Maplebear Inc. (NASDAQ:CART)

Xponance Inc. increased its position in Maplebear Inc. (NASDAQ:CART) by 18.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,704 shares of the company’s stock after buying an additional 1,205 shares during the quarter. Xponance Inc.’s holdings in Maplebear were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock valued at $187,495,000 after buying an additional 4,487,654 shares during the last quarter. Boston Partners purchased a new stake in Maplebear during the 4th quarter valued at about $111,506,000. Geode Capital Management LLC grew its position in Maplebear by 151.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after acquiring an additional 1,647,081 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock worth $60,689,000 after purchasing an additional 1,461,501 shares during the period. Finally, Southpoint Capital Advisors LP lifted its position in Maplebear by 56.3% in the third quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock valued at $101,850,000 after purchasing an additional 900,000 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analysts Set New Price Targets

CART has been the subject of several analyst reports. Wells Fargo & Company began coverage on shares of Maplebear in a research report on Friday, January 10th. They set an “equal weight” rating and a $47.00 price target for the company. Macquarie raised their target price on Maplebear from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Mizuho dropped their price objective on Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Maplebear in a research note on Tuesday, December 3rd. They set a “hold” rating and a $37.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $55.00 price target on shares of Maplebear in a research note on Wednesday, February 26th. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.52.

Maplebear Stock Performance

NASDAQ:CART opened at $40.52 on Friday. The firm has a market cap of $10.72 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The firm has a 50-day simple moving average of $44.72 and a two-hundred day simple moving average of $43.39.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. On average, equities research analysts predict that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Activity

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares in the company, valued at approximately $66,182,360. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,097 shares of company stock valued at $1,087,094 over the last ninety days. 36.00% of the stock is currently owned by corporate insiders.

Maplebear 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.