State of Alaska Department of Revenue Makes New $756,000 Investment in Maplebear Inc. (NASDAQ:CART)

State of Alaska Department of Revenue acquired a new position in Maplebear Inc. (NASDAQ:CART - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 18,965 shares of the company's stock, valued at approximately $756,000.

Several other large investors have also bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of Maplebear by 11,501.2% in the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock worth $187,495,000 after buying an additional 4,487,654 shares during the period. Boston Partners bought a new stake in Maplebear during the fourth quarter worth about $111,506,000. Altimeter Capital Management LP purchased a new stake in Maplebear in the fourth quarter worth about $105,108,000. Vanguard Group Inc. grew its holdings in Maplebear by 16.8% in the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after purchasing an additional 2,300,288 shares during the period. Finally, Norges Bank bought a new position in shares of Maplebear during the fourth quarter valued at approximately $95,162,000. 63.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup boosted their price target on Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Barclays boosted their target price on Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Macquarie restated an "outperform" rating and set a $55.00 price target on shares of Maplebear in a report on Tuesday, May 6th. Wells Fargo & Company dropped their price target on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 3rd. Finally, Loop Capital increased their price objective on shares of Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Thirteen research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $51.91.

Maplebear Stock Up 0.9%

NASDAQ:CART traded up $0.40 on Tuesday, hitting $45.64. The stock had a trading volume of 3,221,509 shares, compared to its average volume of 3,943,140. The business's 50-day simple moving average is $44.54 and its two-hundred day simple moving average is $43.82. The stock has a market cap of $11.98 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 1.91 and a beta of 1.22. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44.

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

Insider Transactions at Maplebear

In other news, Director Levien Meredith A. Kopit sold 4,225 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total value of $200,476.25. Following the completion of the sale, the director directly owned 20,829 shares in the company, valued at $988,336.05. This represents a 16.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Fidji Simo sold 8,133 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the transaction, the chief executive officer directly owned 1,646,426 shares in the company, valued at approximately $68,491,321.60. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,287 shares of company stock worth $967,711 in the last 90 days. 26.00% of the stock is currently owned by 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.