California State Teachers Retirement System Purchases 37,640 Shares of Maplebear Inc. $CART

Key Points

• California State Teachers Retirement System increased its Maplebear (Instacart) stake by 23.4% in the first quarter, buying 37,640 shares to hold 198,552 shares valued at approximately $7.4 million. Institutional investors collectively own 63.09% of the company.
• Maplebear reported quarterly revenue of $1.02 billion, up 13.6% year over year, though earnings per share of $0.57 narrowly missed the $0.58 consensus estimate.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $51.67, compared with the reported share price of $45.65.

California State Teachers Retirement System lifted its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 23.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,552 shares of the company's stock after purchasing an additional 37,640 shares during the quarter. California State Teachers Retirement System owned 0.08% of Maplebear worth $7,438,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE increased its holdings in Maplebear by 17.0% during the fourth quarter. US Bancorp DE now owns 437,658 shares of the company's stock worth $19,686,000 after buying an additional 63,666 shares during the last quarter. Ruffer LLP acquired a new stake in Maplebear in the 4th quarter valued at about $2,567,000. CWM LLC increased its position in Maplebear by 1,741.4% during the fourth quarter. CWM LLC now owns 30,088 shares of the company's stock worth $1,353,000 after buying an additional 28,454 shares during the last quarter. Carnegie Investment Counsel boosted its stake in shares of Maplebear by 2.7% during the 4th quarter. Carnegie Investment Counsel now owns 557,350 shares of the company's stock worth $25,070,000 after acquiring an additional 14,414 shares during the period. Finally, Horizon Investments LLC raised its stake in Maplebear by 263,556.8% in the 4th quarter. Horizon Investments LLC now owns 116,009 shares of the company's stock valued at $5,218,000 after acquiring an additional 115,965 shares during the period. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Price Performance

Shares of Maplebear stock opened at $45.65 on Wednesday. The company's 50 day moving average price is $44.57 and its two-hundred day moving average price is $40.74. The firm has a market capitalization of $10.73 billion, a P/E ratio of 25.50, a P/E/G ratio of 0.62 and a beta of 0.78. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.01). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The company's revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 earnings per share. On average, analysts expect that Maplebear Inc. will post 2.47 earnings per share for the current year.

Insider Activity at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the transaction, the director owned 741,523 shares in the company, valued at $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 24.00% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on CART. Raymond James Financial raised shares of Maplebear from a "hold" rating to a "moderate buy" rating in a report on Thursday, April 9th. Wells Fargo & Company increased their price objective on Maplebear from $45.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. Citizens Jmp restated a "market outperform" rating and issued a $60.00 price target on shares of Maplebear in a research note on Monday, June 15th. Needham & Company LLC reiterated a "buy" rating and issued a $55.00 price objective on shares of Maplebear in a research note on Thursday, May 7th. Finally, Guggenheim increased their target price on shares of Maplebear from $40.00 to $44.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Maplebear has a consensus rating of "Moderate Buy" and an average price target of $51.67.

Maplebear Company Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers' existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.

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