Maplebear Inc. (NASDAQ:CART) Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System increased its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 542.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,720 shares of the company's stock after acquiring an additional 85,896 shares during the period. New York State Teachers Retirement System's holdings in Maplebear were worth $4,058,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC grew its holdings in shares of Maplebear by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company's stock worth $43,000 after acquiring an additional 533 shares during the period. US Bancorp DE grew its holdings in Maplebear by 22.3% during the 4th quarter. US Bancorp DE now owns 13,077 shares of the company's stock valued at $542,000 after buying an additional 2,387 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in Maplebear during the 4th quarter valued at $234,000. PNC Financial Services Group Inc. grew its holdings in Maplebear by 243.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock valued at $141,000 after buying an additional 2,409 shares during the last quarter. Finally, Jasper Ridge Partners L.P. grew its holdings in Maplebear by 33.4% during the 4th quarter. Jasper Ridge Partners L.P. now owns 75,986 shares of the company's stock valued at $3,147,000 after buying an additional 19,019 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Trading Up 3.5%

NASDAQ:CART traded up $1.67 during mid-day trading on Monday, hitting $48.85. The company had a trading volume of 4,734,790 shares, compared to its average volume of 3,939,364. The business has a fifty day simple moving average of $44.84 and a 200-day simple moving average of $43.92. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The firm has a market capitalization of $12.82 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 1.99 and a beta of 1.21.

Maplebear (NASDAQ:CART - Get Free Report) last released 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). Maplebear had a net margin of 12.45% and a return on equity of 14.12%. The company had revenue of $897.00 million during the quarter, compared to analysts' expectations of $896.86 million. During the same period last year, the business earned $0.43 earnings per share. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, research analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CART. Needham & Company LLC reiterated a "buy" rating and set a $56.00 target price on shares of Maplebear in a report on Friday, May 2nd. Stifel Nicolaus lowered their target price on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Loop Capital increased their target price on Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, JMP Securities reiterated a "market outperform" rating and set a $55.00 target price on shares of Maplebear in a report on Thursday, June 12th. Thirteen investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Maplebear currently has a consensus rating of "Moderate Buy" and an average price target of $51.91.

Insider Buying and Selling at Maplebear

In other news, General Counsel Morgan Fong sold 5,249 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was 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 directly owned 484,292 shares in the company, valued at $20,616,310.44. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the firm's 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 sale, the director owned 20,829 shares of the company's stock, valued at $988,336.05. This represents a 16.86% 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 valued at $967,711 over the last three months. 26.00% of the stock is owned by company 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.