Teachers Retirement System of The State of Kentucky Acquires New Holdings in Maplebear Inc. (NASDAQ:CART)

Teachers Retirement System of The State of Kentucky bought a new position in Maplebear Inc. (NASDAQ:CART - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 52,300 shares of the company's stock, valued at approximately $2,086,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of Maplebear by 62.8% during the 1st quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company's stock valued at $293,919,000 after acquiring an additional 2,841,559 shares during the last quarter. Altimeter Capital Management LP acquired a new stake in shares of Maplebear during the fourth quarter worth about $105,108,000. Vanguard Group Inc. lifted its position in Maplebear by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after acquiring an additional 2,300,288 shares during the period. Norges Bank acquired a new position in shares of Maplebear in the fourth quarter valued at approximately $95,162,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Maplebear by 85.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock worth $127,650,000 after purchasing an additional 1,416,426 shares during the period. Institutional investors and hedge funds own 63.09% of the company's stock.

Insiders Place Their Bets

In other news, Director Levien Meredith A. Kopit sold 4,225 shares of Maplebear stock in a transaction on 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 approximately $988,336.05. The trade was a 16.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Danker sold 10,037 shares of Maplebear stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $48.82, for a total transaction of $490,006.34. Following the completion of the transaction, the insider owned 470,190 shares of the company's stock, valued at $22,954,675.80. This represents a 2.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,055 shares of company stock worth $5,467,860 in the last 90 days. 26.00% of the stock is currently owned by company insiders.

Maplebear Price Performance

Shares of Maplebear stock traded up $0.05 during trading hours on Thursday, reaching $49.84. The company's stock had a trading volume of 1,948,701 shares, compared to its average volume of 3,055,353. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The firm has a 50 day moving average price of $46.35 and a 200-day moving average price of $44.48. The stock has a market cap of $13.08 billion, a P/E ratio of 32.79, a P/E/G ratio of 2.09 and a beta of 1.21.

Maplebear (NASDAQ:CART - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a net margin of 12.45% and a return on equity of 14.12%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $0.43 EPS. As a group, sell-side analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CART. Macquarie reiterated an "outperform" rating and set a $55.00 target price on shares of Maplebear in a research report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their target price on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen downgraded shares of Maplebear from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Stifel Nicolaus dropped their price objective on Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Robert W. Baird upped their target price on Maplebear from $47.00 to $52.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $52.30.

About Maplebear

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.