Public Employees Retirement System of Ohio Grows Stock Position in Maplebear Inc. (NASDAQ:CART)

Public Employees Retirement System of Ohio raised its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 69.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,116 shares of the company's stock after buying an additional 45,458 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Maplebear were worth $4,602,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CART. Jones Financial Companies Lllp boosted its position in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after buying an additional 222 shares during the period. Allworth Financial LP boosted its holdings in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after acquiring an additional 420 shares during the period. NewEdge Advisors LLC boosted its holdings in Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after acquiring an additional 717 shares during the period. Anderson Financial Strategies LLC acquired a new position in Maplebear in the 4th quarter valued at about $46,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in Maplebear during the fourth quarter worth about $62,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

CART has been the subject of several recent research reports. Oppenheimer lowered their price objective on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. FBN Securities assumed coverage on shares of Maplebear in a research report on Friday, March 28th. They issued a "sector perform" rating and a $44.00 price target for the company. Jefferies Financial Group boosted their price target 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. Barclays upped their price objective on Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, Wells Fargo & Company decreased their target price on Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Maplebear has an average rating of "Moderate Buy" and a consensus price target of $51.61.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 2,033 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the sale, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. This represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of the 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 sale, the general counsel now owns 484,292 shares of the company's stock, valued at $20,616,310.44. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,415 shares of company stock valued at $643,103 over the last quarter. Company insiders own 26.00% of the company's stock.

Maplebear Stock Performance

NASDAQ CART traded up $0.77 during trading hours on Monday, hitting $46.44. The company had a trading volume of 2,791,426 shares, compared to its average volume of 4,027,170. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The company has a market cap of $12.19 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. The business has a 50 day moving average of $42.69 and a 200-day moving average of $43.60.

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 analysts' expectations of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 earnings per share. Sell-side analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

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.