Arizona State Retirement System grew its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 55.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,518 shares of the company's stock after acquiring an additional 14,414 shares during the period. Arizona State Retirement System's holdings in Maplebear were worth $1,616,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Diversify Wealth Management LLC purchased a new stake in shares of Maplebear during the 1st quarter valued at approximately $584,000. Xponance Inc. lifted its stake in Maplebear by 149.7% in the 1st quarter. Xponance Inc. now owns 19,234 shares of the company's stock worth $767,000 after purchasing an additional 11,530 shares in the last quarter. State of Michigan Retirement System purchased a new stake in Maplebear in the 1st quarter worth approximately $1,544,000. Cerity Partners LLC lifted its stake in Maplebear by 2.4% in the 1st quarter. Cerity Partners LLC now owns 86,774 shares of the company's stock worth $3,461,000 after purchasing an additional 2,070 shares in the last quarter. Finally, New Mexico Educational Retirement Board purchased a new stake in Maplebear in the 1st quarter worth approximately $1,328,000. 63.09% of the stock is owned by institutional investors.
Maplebear Stock Up 1.5%
CART traded up $0.74 on Friday, reaching $49.11. 3,356,560 shares of the company traded hands, compared to its average volume of 3,963,298. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The firm has a fifty day simple moving average of $45.93 and a two-hundred day simple moving average of $44.32. The company has a market cap of $12.89 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 2.07 and a beta of 1.21.
Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The company's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 EPS. On average, equities analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.
Insider Activity at Maplebear
In other news, Director Levien Meredith A. Kopit sold 4,225 shares of the stock in a transaction dated Thursday, June 5th. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the sale, the general counsel owned 484,292 shares of the company's stock, valued at $20,616,310.44. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,387 shares of company stock worth $1,310,570 in the last three months. Company insiders own 26.00% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Citigroup increased their target price on shares of Maplebear from $55.00 to $57.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Macquarie reissued an "outperform" rating and issued a $55.00 price target on shares of Maplebear in a report on Tuesday, May 6th. Barclays raised their price target on shares of Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Wall Street Zen lowered shares of Maplebear from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Wells Fargo & Company cut their price target on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Eleven 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $51.95.
View Our Latest Report on Maplebear
About Maplebear
(
Free Report)
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.
Read More
Before you consider Maplebear, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Maplebear wasn't on the list.
While Maplebear currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
