Fox Run Management L.L.C. Makes New Investment in Maplebear Inc. $CART

Fox Run Management L.L.C. purchased a new stake in Maplebear Inc. (NASDAQ:CART) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,397 shares of the company’s stock, valued at approximately $470,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CART. William Blair Investment Management LLC bought a new position in Maplebear in the second quarter worth approximately $151,364,000. Victory Capital Management Inc. raised its position in shares of Maplebear by 62.8% in the 1st quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company’s stock worth $293,919,000 after acquiring an additional 2,841,559 shares in the last quarter. Champlain Investment Partners LLC purchased a new stake in shares of Maplebear during the 1st quarter worth $52,333,000. Westfield Capital Management Co. LP bought a new stake in Maplebear during the first quarter valued at about $48,639,000. Finally, Invesco Ltd. boosted its position in Maplebear by 82.5% during the first quarter. Invesco Ltd. now owns 2,575,624 shares of the company’s stock valued at $102,742,000 after purchasing an additional 1,164,702 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Maplebear news, General Counsel Morgan Fong sold 3,546 shares of Maplebear stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $38.85, for a total transaction of $137,762.10. Following the completion of the sale, the general counsel directly owned 427,523 shares in the company, valued at approximately $16,609,268.55. The trade was a 0.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Fidji Simo sold 1,014 shares of the stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $40.00, for a total transaction of $40,560.00. Following the completion of the sale, the director owned 569,742 shares in the company, valued at $22,789,680. The trade was a 0.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,556 shares of company stock valued at $1,179,482 over the last quarter. 26.00% of the stock is currently owned by company insiders.

Maplebear Price Performance

Shares of CART opened at $39.20 on Wednesday. The company’s fifty day moving average price is $40.41 and its 200-day moving average price is $43.94. Maplebear Inc. has a 1-year low of $34.78 and a 1-year high of $53.50. The firm has a market capitalization of $10.33 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 1.15 and a beta of 1.10.

Maplebear (NASDAQ:CART) last issued its earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $939.00 million during the quarter, compared to analyst estimates of $933.76 million. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. As a group, research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on CART. JMP Securities increased their price target on shares of Maplebear from $55.00 to $60.00 and gave the company a “market outperform” rating in a research report on Friday, August 8th. Mizuho began coverage on shares of Maplebear in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $45.00 target price for the company. Benchmark reduced their price target on Maplebear from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday. Guggenheim started coverage on Maplebear in a report on Wednesday, October 15th. They set a “neutral” rating and a $40.00 price objective for the company. Finally, Jefferies Financial Group lowered their price objective on Maplebear from $55.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.40.

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.