Maplebear Inc. $CART Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 14.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,604 shares of the company’s stock after purchasing an additional 6,373 shares during the period. Teacher Retirement System of Texas’ holdings in Maplebear were worth $2,289,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CART. William Blair Investment Management LLC acquired a new stake in shares of Maplebear in the 2nd quarter worth approximately $151,364,000. Victory Capital Management Inc. grew its holdings in shares of Maplebear by 62.8% in the 1st quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company’s stock worth $293,919,000 after acquiring an additional 2,841,559 shares during the period. Champlain Investment Partners LLC acquired a new stake in shares of Maplebear in the 1st quarter worth approximately $52,333,000. Westfield Capital Management Co. LP acquired a new stake in shares of Maplebear in the 1st quarter worth approximately $48,639,000. Finally, Invesco Ltd. grew its holdings in shares of Maplebear by 82.5% in the 1st quarter. Invesco Ltd. now owns 2,575,624 shares of the company’s stock worth $102,742,000 after acquiring an additional 1,164,702 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Activity at Maplebear

In other Maplebear news, Director Fidji Simo sold 1,014 shares of the stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $40.00, for a total transaction of $40,560.00. Following the transaction, the director owned 569,742 shares of the company’s stock, valued at $22,789,680. This represents a 0.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Morgan Fong sold 3,546 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $38.85, for a total value of $137,762.10. Following the transaction, the general counsel directly owned 427,523 shares in the company, valued at approximately $16,609,268.55. This represents a 0.82% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 27,556 shares of company stock valued at $1,179,482. 26.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CART shares. BTIG Research restated a “neutral” rating and issued a $55.00 price target on shares of Maplebear in a report on Tuesday, September 30th. Needham & Company LLC upped their price target on Maplebear from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Wall Street Zen cut Maplebear from a “buy” rating to a “hold” rating in a report on Monday, September 29th. Piper Sandler cut Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price target on the stock. in a report on Friday, October 3rd. Finally, Jefferies Financial Group lowered their price target on Maplebear from $55.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.12.

Maplebear Stock Performance

CART stock opened at $36.86 on Monday. Maplebear Inc. has a 1 year low of $34.87 and a 1 year high of $53.50. The stock’s 50 day moving average price is $41.31 and its 200 day moving average price is $44.20. The firm has a market cap of $9.71 billion, a P/E ratio of 21.31, a PEG ratio of 1.13 and a beta of 1.10.

Maplebear (NASDAQ:CART) last posted its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The firm had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. During the same quarter in the prior year, the company earned $0.20 EPS. Maplebear’s revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current 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.