Hodges Capital Management Inc. Has $1.90 Million Holdings in Maplebear Inc. (NASDAQ:CART)

Hodges Capital Management Inc. trimmed its position in Maplebear Inc. (NASDAQ:CART) by 41.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,900 shares of the company’s stock after selling 33,150 shares during the quarter. Hodges Capital Management Inc.’s holdings in Maplebear were worth $1,901,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CART. Pacer Advisors Inc. bought a new position in shares of Maplebear during the 3rd quarter worth about $158,701,000. Geode Capital Management LLC raised its position in Maplebear by 151.7% in the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after purchasing an additional 1,647,081 shares in the last quarter. Maverick Capital Ltd. lifted its stake in Maplebear by 19.7% during the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock worth $109,363,000 after purchasing an additional 441,156 shares during the period. State Street Corp boosted its holdings in Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company’s stock valued at $103,994,000 after purchasing an additional 831,795 shares in the last quarter. Finally, Southpoint Capital Advisors LP lifted its position in shares of Maplebear by 56.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock worth $101,850,000 after buying an additional 900,000 shares during the period. 63.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CART shares. Oppenheimer increased their price objective on Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their target price on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Macquarie boosted their price target on shares of Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. JMP Securities upped their price objective on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Finally, Robert W. Baird boosted their target price on Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.96.

Maplebear Trading Down 0.3 %

Shares of Maplebear stock opened at $48.13 on Tuesday. The stock’s fifty day simple moving average is $44.10 and its 200 day simple moving average is $40.69. The company has a market capitalization of $12.36 billion, a PE ratio of 32.30, a PEG ratio of 1.09 and a beta of 1.07. Maplebear Inc. has a 12 month low of $23.59 and a 12 month high of $50.01.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. During the same period in the prior year, the company earned ($20.86) earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. Analysts predict that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Activity

In related news, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the transaction, the chief accounting officer now directly owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $42.97, for a total value of $891,627.50. Following the transaction, the chief executive officer now owns 1,804,243 shares of the company’s stock, valued at approximately $77,528,321.71. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,808 shares of company stock worth $3,569,808 over the last quarter. 36.00% of the stock is currently owned by company 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.