Maplebear Inc. $CART Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its holdings in Maplebear Inc. (NASDAQ:CART) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 421,051 shares of the company’s stock after purchasing an additional 22,190 shares during the quarter. Retirement Systems of Alabama’s holdings in Maplebear were worth $15,478,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in shares of Maplebear by 51.2% in the 1st quarter. Royal Bank of Canada now owns 131,789 shares of the company’s stock worth $5,256,000 after buying an additional 44,642 shares during the last quarter. NewEdge Advisors LLC raised its stake in Maplebear by 71.6% during the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock worth $67,000 after acquiring an additional 698 shares during the period. Jones Financial Companies Lllp lifted its holdings in Maplebear by 358.5% in the first quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company’s stock worth $128,000 after acquiring an additional 2,502 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Maplebear by 17.4% in the first quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company’s stock worth $15,585,000 after acquiring an additional 57,879 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in Maplebear in the first quarter valued at approximately $268,000. Institutional investors own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

CART has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a research report on Monday, December 29th. Argus started coverage on Maplebear in a research report on Wednesday, January 7th. They issued a “buy” rating and a $52.00 target price on the stock. BTIG Research reissued a “neutral” rating and set a $55.00 price target on shares of Maplebear in a report on Tuesday, September 30th. Citigroup lowered their price target on shares of Maplebear from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, Jefferies Financial Group increased their price objective on shares of Maplebear from $41.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, December 11th. Fifteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Maplebear has an average rating of “Hold” and a consensus target price of $51.62.

Maplebear Stock Performance

NASDAQ:CART opened at $37.96 on Wednesday. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 1.04 and a beta of 0.97. Maplebear Inc. has a 1 year low of $34.78 and a 1 year high of $53.50. The business has a fifty day moving average of $42.81 and a 200-day moving average of $42.95.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $939.00 million during the quarter, compared to the consensus estimate of $933.76 million. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 earnings per share. On average, equities research analysts predict that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Activity at Maplebear

In other news, General Counsel Morgan Fong sold 4,914 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total value of $222,161.94. Following the completion of the sale, the general counsel directly owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. This represents a 1.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 26.00% of the company’s stock.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.