World Investment Advisors Invests $251,000 in Maplebear Inc. (NASDAQ:CART)

World Investment Advisors bought a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 6,293 shares of the company's stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CART. Calamos Advisors LLC bought a new stake in Maplebear in the first quarter valued at about $404,000. Principal Financial Group Inc. increased its stake in Maplebear by 4,154.7% in the first quarter. Principal Financial Group Inc. now owns 372,581 shares of the company's stock valued at $14,862,000 after acquiring an additional 363,824 shares during the period. Oregon Public Employees Retirement Fund bought a new stake in Maplebear in the first quarter valued at about $1,308,000. Teacher Retirement System of Texas increased its stake in Maplebear by 15.4% in the first quarter. Teacher Retirement System of Texas now owns 44,231 shares of the company's stock valued at $1,764,000 after acquiring an additional 5,913 shares during the period. Finally, New York State Teachers Retirement System increased its stake in Maplebear by 542.8% in the first quarter. New York State Teachers Retirement System now owns 101,720 shares of the company's stock valued at $4,058,000 after acquiring an additional 85,896 shares during the period. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Stock Up 1.4%

NASDAQ CART traded up $0.66 during trading hours on Tuesday, hitting $48.67. The company's stock had a trading volume of 1,698,376 shares, compared to its average volume of 3,945,195. The stock has a fifty day moving average of $45.61 and a 200 day moving average of $44.15. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44. The firm has a market capitalization of $12.78 billion, a P/E ratio of 32.02, a PEG ratio of 2.02 and a beta of 1.21.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $897.00 million during 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 for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $0.43 earnings per share. On average, analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Buying and Selling at Maplebear

In other Maplebear news, Director Levien Meredith A. Kopit sold 4,225 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $47.45, for a total value of $200,476.25. Following the sale, the director directly owned 20,829 shares in the company, valued at approximately $988,336.05. This trade represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Morgan Fong sold 4,680 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $43.90, for a total transaction of $205,452.00. Following the completion of the sale, the general counsel owned 456,680 shares in the company, valued at approximately $20,048,252. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,154 shares of company stock worth $629,378. Company insiders own 26.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CART. Wells Fargo & Company lowered their target price 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. Citigroup upped their price objective on shares of Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Macquarie reaffirmed an "outperform" rating and set a $55.00 price objective on shares of Maplebear in a research note on Tuesday, May 6th. Wall Street Zen cut shares of Maplebear from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Jefferies Financial Group upped their price objective on shares of Maplebear from $48.00 to $50.00 and gave the stock a "hold" rating in a research note on Tuesday, May 27th. Twelve investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Maplebear has an average rating of "Moderate Buy" and an average target price of $51.91.

About Maplebear

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.