New Mexico Educational Retirement Board Acquires Shares of 33,300 Maplebear Inc. (NASDAQ:CART)

New Mexico Educational Retirement Board acquired a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 33,300 shares of the company's stock, valued at approximately $1,328,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its position in shares of Maplebear by 1,076.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 160,327 shares of the company's stock worth $6,395,000 after purchasing an additional 146,699 shares during the period. Bank of New York Mellon Corp raised its position in shares of Maplebear by 102.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,200,200 shares of the company's stock worth $47,876,000 after purchasing an additional 606,720 shares during the period. World Investment Advisors acquired a new stake in shares of Maplebear during the 1st quarter worth approximately $251,000. Calamos Advisors LLC acquired a new stake in Maplebear in the 1st quarter valued at approximately $404,000. Finally, Principal Financial Group Inc. increased its position in Maplebear by 4,154.7% in the 1st 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. Institutional investors and hedge funds own 63.09% of the company's stock.

Insider Transactions at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 4,680 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $43.90, for a total value of $205,452.00. Following the completion of the sale, the general counsel owned 456,680 shares of the company's stock, valued at $20,048,252. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $988,336.05. This represents a 16.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,154 shares of company stock valued at $629,378 in the last ninety days. Insiders own 26.00% of the company's stock.

Maplebear Price Performance

CART traded up $0.02 during trading on Monday, reaching $48.01. 2,575,299 shares of the stock traded hands, compared to its average volume of 3,950,883. The stock has a market cap of $12.60 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 2.02 and a beta of 1.21. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The stock's 50-day simple moving average is $45.59 and its two-hundred day simple moving average is $44.11.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share 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 company had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. During the same period in the prior year, the firm earned $0.43 EPS. Maplebear's quarterly revenue was up 9.4% on a year-over-year basis. Research analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on CART shares. JMP Securities restated a "market outperform" rating and issued a $55.00 target price on shares of Maplebear in a research report on Thursday, June 12th. Macquarie restated an "outperform" rating and issued a $55.00 target price on shares of Maplebear in a research report on Tuesday, May 6th. FBN Securities initiated coverage on Maplebear in a research note on Friday, March 28th. They set a "sector perform" rating and a $44.00 price target for the company. Barclays increased their price target on Maplebear from $58.00 to $61.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Finally, Stifel Nicolaus decreased their price target on Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Twelve equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Maplebear presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.91.

Maplebear Company 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.