Pacer Advisors Inc. Has $50.74 Million Stock Holdings in Maplebear Inc. $CART

Pacer Advisors Inc. raised its stake in Maplebear Inc. (NASDAQ:CART) by 43.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,128,151 shares of the company’s stock after purchasing an additional 342,283 shares during the quarter. Pacer Advisors Inc. owned approximately 0.43% of Maplebear worth $50,744,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Maplebear by 1.0% in the 4th quarter. State Street Corp now owns 5,461,637 shares of the company’s stock valued at $245,664,000 after buying an additional 54,872 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Maplebear by 114.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock worth $170,594,000 after buying an additional 2,026,567 shares during the last quarter. Viking Global Investors LP bought a new stake in Maplebear during the second quarter worth $169,782,000. Geode Capital Management LLC lifted its stake in Maplebear by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company’s stock valued at $158,640,000 after acquiring an additional 54,010 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Maplebear by 3.2% in the 4th quarter. Federated Hermes Inc. now owns 3,287,952 shares of the company’s stock valued at $147,892,000 after acquiring an additional 101,278 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CART shares. Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday, April 9th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price target on shares of Maplebear in a report on Thursday, May 7th. Jefferies Financial Group raised Maplebear from a “hold” rating to a “buy” rating and boosted their price target for the stock from $38.00 to $45.00 in a research report on Monday, March 30th. Barclays raised their price objective on Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $60.00 target price on shares of Maplebear in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and an average target price of $51.09.

Insider Buying and Selling

In related news, CAO Lisa Blackwood-Kapral sold 9,390 shares of Maplebear stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the sale, the chief accounting officer directly owned 58,971 shares of the company’s stock, valued at approximately $2,373,582.75. This trade represents a 13.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the sale, the director owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This trade represents a 19.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 24.00% of the stock is currently owned by company insiders.

Maplebear Price Performance

Maplebear stock opened at $44.55 on Friday. The stock has a market cap of $10.47 billion, a P/E ratio of 24.89, a P/E/G ratio of 0.61 and a beta of 0.88. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50. The company’s 50-day moving average price is $41.36 and its two-hundred day moving average price is $40.33.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $0.37 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. Equities analysts anticipate that Maplebear Inc. will post 2.45 earnings per share for the current fiscal year.

Maplebear Profile

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.