Xponance Inc. Buys 11,530 Shares of Maplebear Inc. (NASDAQ:CART)

Xponance Inc. lifted its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 149.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,234 shares of the company's stock after buying an additional 11,530 shares during the quarter. Xponance Inc.'s holdings in Maplebear were worth $767,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CART. Jones Financial Companies Lllp lifted its stake in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after buying an additional 222 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Maplebear in the 4th quarter valued at approximately $3,861,000. PNC Financial Services Group Inc. raised its stake in Maplebear by 243.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock worth $141,000 after acquiring an additional 2,409 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Maplebear in the 4th quarter valued at $234,000. Finally, Parallel Advisors LLC grew its holdings in shares of Maplebear by 269.4% in the 4th quarter. Parallel Advisors LLC now owns 25,911 shares of the company's stock worth $1,073,000 after purchasing an additional 18,897 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Maplebear

In other news, Director Levien Meredith A. Kopit sold 4,225 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $47.45, for a total transaction of $200,476.25. Following the completion of the transaction, the director directly owned 20,829 shares of the company's stock, valued at $988,336.05. This represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fidji Simo sold 14,233 shares of Maplebear stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $47.86, for a total value of $681,191.38. Following the completion of the sale, the chief executive officer directly owned 2,032,005 shares in the company, valued at approximately $97,251,759.30. This represents a 0.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,387 shares of company stock valued at $1,310,570 in the last 90 days. 26.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on CART shares. JMP Securities restated a "market outperform" rating and issued a $55.00 price target on shares of Maplebear in a research report on Thursday, June 12th. Stifel Nicolaus reduced their target price on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen cut Maplebear from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Needham & Company LLC reiterated a "buy" rating and issued a $56.00 price objective on shares of Maplebear in a research report on Friday, May 2nd. Finally, Robert W. Baird increased their target price on Maplebear from $47.00 to $52.00 and gave the stock an "outperform" rating in a report on Thursday. Eleven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Maplebear currently has an average rating of "Moderate Buy" and an average target price of $51.95.

Maplebear Stock Performance

NASDAQ:CART traded up $0.74 on Friday, reaching $49.11. The company's stock had a trading volume of 3,317,590 shares, compared to its average volume of 3,952,138. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The firm has a market cap of $12.89 billion, a PE ratio of 32.31, a PEG ratio of 2.01 and a beta of 1.21. The business's 50-day moving average price is $45.82 and its two-hundred day moving average price is $44.25.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The company had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The company's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 earnings per share. As a group, sell-side analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

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.