38,318 Shares in Maplebear Inc. (NASDAQ:CART) Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new stake in Maplebear Inc. (NASDAQ:CART) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 38,318 shares of the company’s stock, valued at approximately $1,587,000.

Several other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Maplebear by 5,191.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after buying an additional 1,461,501 shares during the period. Cerity Partners LLC acquired a new position in Maplebear in the 3rd quarter valued at $1,442,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Maplebear by 95.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,258 shares of the company’s stock worth $1,233,000 after purchasing an additional 14,750 shares during the period. Vinva Investment Management Ltd acquired a new stake in shares of Maplebear during the third quarter worth $212,000. Finally, Verition Fund Management LLC grew its position in shares of Maplebear by 54.0% in the third quarter. Verition Fund Management LLC now owns 630,809 shares of the company’s stock valued at $25,699,000 after purchasing an additional 221,091 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Stock Performance

Shares of CART stock opened at $39.73 on Friday. The stock has a market capitalization of $10.51 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The company’s 50-day simple moving average is $44.59 and its 200-day simple moving average is $43.42.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. The company had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. As a group, research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CART shares. Oppenheimer decreased their target price on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus lifted their price target on shares of Maplebear from $56.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $56.00 price objective on shares of Maplebear in a research note on Wednesday, February 26th. Morgan Stanley increased their target price on Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Finally, BMO Capital Markets boosted their price target on Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Fourteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and an average price target of $50.25.

Insider Buying and Selling at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the transaction, the chief executive officer now owns 1,654,559 shares of the company’s stock, valued at approximately $66,182,360. The trade was a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,097 shares of company stock worth $1,087,094 over the last 90 days. Insiders own 36.00% of the company’s stock.

Maplebear Company 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.