Arizona State Retirement System Sells 573 Shares of Maplebear Inc. (NASDAQ:CART)

Arizona State Retirement System lessened its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 2.1% during the 4th quarter, HoldingsChannel reports. The firm owned 26,104 shares of the company’s stock after selling 573 shares during the period. Arizona State Retirement System’s holdings in Maplebear were worth $1,081,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in shares of Maplebear by 11,501.2% during the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock valued at $187,495,000 after purchasing an additional 4,487,654 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Maplebear in the 3rd quarter valued at approximately $158,701,000. Geode Capital Management LLC raised its position in Maplebear by 151.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock valued at $111,361,000 after buying an additional 1,647,081 shares during the last quarter. Maverick Capital Ltd. raised its position in Maplebear by 19.7% in the 3rd quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock valued at $109,363,000 after buying an additional 441,156 shares during the last quarter. Finally, State Street Corp raised its position in Maplebear by 48.3% in the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company’s stock valued at $103,994,000 after buying an additional 831,795 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CART shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $55.00 target price on shares of Maplebear in a research report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $56.00 target price on shares of Maplebear in a research report on Wednesday, February 26th. Wedbush dropped their target price on Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Bank of America lifted their target price on Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Thirteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.21.

Maplebear Price Performance

CART opened at $37.46 on Friday. The business has a fifty day simple moving average of $45.68 and a 200 day simple moving average of $43.05. The company has a market capitalization of $9.91 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.16. The business had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Equities analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Activity at Maplebear

In other news, CAO Alan Ramsay sold 2,247 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the sale, the chief accounting officer now directly owns 87,735 shares in the company, valued at approximately $3,697,152.90. This represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total value of $886,855.00. Following the sale, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,061 shares of company stock worth $1,987,318 in the last ninety days. 36.00% of the stock is owned by company insiders.

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.