Dimensional Fund Advisors LP Has $186.62 Million Stock Position in Maplebear Inc. $CART

Dimensional Fund Advisors LP grew its holdings in Maplebear Inc. (NASDAQ:CART) by 31.4% in the first quarter, HoldingsChannel reports. The fund owned 4,981,960 shares of the company’s stock after buying an additional 1,189,287 shares during the period. Dimensional Fund Advisors LP’s holdings in Maplebear were worth $186,618,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CART. KBC Group NV grew its stake in shares of Maplebear by 16.5% in the first quarter. KBC Group NV now owns 5,416 shares of the company’s stock valued at $203,000 after acquiring an additional 767 shares in the last quarter. Aurora Investment Counsel raised its stake in Maplebear by 2.4% in the 1st quarter. Aurora Investment Counsel now owns 62,677 shares of the company’s stock worth $2,348,000 after purchasing an additional 1,492 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Maplebear by 15.0% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 5,537 shares of the company’s stock valued at $207,000 after purchasing an additional 723 shares during the period. Financiere des Professionnels Fonds d investissement inc. boosted its holdings in Maplebear by 35.1% in the 1st quarter. Financiere des Professionnels Fonds d investissement inc. now owns 18,910 shares of the company’s stock valued at $708,000 after purchasing an additional 4,918 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Maplebear during the 1st quarter worth approximately $3,086,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Stock Down 0.8%

Shares of Maplebear stock opened at $42.21 on Friday. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 0.58 and a beta of 0.75. Maplebear Inc. has a 12-month low of $32.73 and a 12-month high of $53.50. The firm’s 50-day moving average price is $43.98 and its two-hundred day moving average price is $40.64.

Maplebear (NASDAQ:CART) last released its earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. Maplebear’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share. On average, sell-side analysts expect that Maplebear Inc. will post 2.46 earnings per share for the current year.

Insider Activity

In related news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the sale, the director owned 741,523 shares in the company, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 24.00% of the company’s stock.

Analysts Set New Price Targets

CART has been the topic of several recent research reports. Citizens Jmp reaffirmed a “market outperform” rating and set a $60.00 target price on shares of Maplebear in a report on Monday, June 15th. Barclays boosted their price target on Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Jefferies Financial Group raised Maplebear from a “hold” rating to a “buy” rating and increased their price target for the stock from $38.00 to $45.00 in a research report on Monday, March 30th. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Maplebear in a research note on Thursday, May 7th. Finally, Wells Fargo & Company lifted their price objective on Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.48.

Maplebear Company 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.