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

Xponance Inc. lifted its holdings in Maplebear Inc. (NASDAQ:CART) by 18.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,704 shares of the company’s stock after buying an additional 1,205 shares during the period. Xponance Inc.’s holdings in Maplebear were worth $319,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position 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 bought a new position in shares of Maplebear in the third quarter worth about $1,442,000. Blueshift Asset Management LLC bought a new position in shares of Maplebear in the third quarter worth about $788,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Maplebear by 95.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,258 shares of the company’s stock valued at $1,233,000 after acquiring an additional 14,750 shares during the period. Finally, Vinva Investment Management Ltd bought a new position in shares of Maplebear during the 3rd quarter valued at approximately $212,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Mizuho dropped their price target on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $56.00 target price on shares of Maplebear in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Maplebear in a report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price target on the stock. Barclays upped their price objective on Maplebear from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Benchmark reissued a “hold” rating on shares of Maplebear in a research note 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.52.

Insider Buying and Selling

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the sale, the chief executive officer now owns 1,654,559 shares of the company’s stock, valued at approximately $66,182,360. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,097 shares of company stock valued at $1,087,094. Company insiders own 36.00% of the company’s stock.

Maplebear Price Performance

NASDAQ:CART opened at $40.52 on Friday. The firm has a market capitalization of $10.72 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.19 and a beta of 1.34. The business has a 50 day simple moving average of $44.72 and a 200-day simple moving average of $43.39. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44.

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. 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. As a group, analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal 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.