Fox Run Management L.L.C. Acquires New Holdings in Maplebear Inc. (NASDAQ:CART)

Fox Run Management L.L.C. bought a new stake in Maplebear Inc. (NASDAQ:CART) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 7,640 shares of the company’s stock, valued at approximately $316,000.

A number of other large investors have also added to or reduced their stakes in CART. KLP Kapitalforvaltning AS purchased a new position in shares of Maplebear in the 4th quarter worth approximately $791,000. Hillsdale Investment Management Inc. acquired a new stake in Maplebear in the fourth quarter valued at approximately $766,000. Sei Investments Co. grew its holdings in Maplebear by 489.0% in the fourth quarter. Sei Investments Co. now owns 140,423 shares of the company’s stock worth $5,816,000 after purchasing an additional 116,583 shares during the last quarter. American Century Companies Inc. increased its position in shares of Maplebear by 25.6% during the fourth quarter. American Century Companies Inc. now owns 191,528 shares of the company’s stock worth $7,933,000 after purchasing an additional 39,051 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Maplebear during the 4th quarter valued at $2,974,000. 63.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wedbush dropped their target price on Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Tuesday, January 14th. BMO Capital Markets increased their price objective on shares of Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $56.00 target price on shares of Maplebear in a research report on Wednesday, February 26th. Finally, Barclays raised their price target on shares of Maplebear from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.52.

Maplebear Stock Down 3.7 %

Shares of NASDAQ CART opened at $40.35 on Thursday. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The company’s 50-day simple moving average is $44.85 and its 200-day simple moving average is $43.41. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34.

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

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the sale, the chief executive officer now owns 1,654,559 shares in the company, valued at approximately $66,182,360. This represents a 0.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,097 shares of company stock worth $1,087,094. Corporate insiders own 36.00% of the company’s stock.

About Maplebear

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.