Louisiana State Employees Retirement System Takes $2 Million Position in Maplebear Inc. $CART

Louisiana State Employees Retirement System acquired a new stake in shares of Maplebear Inc. (NASDAQ:CART) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 53,300 shares of the company’s stock, valued at approximately $1,997,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. PenderFund Capital Management Ltd. purchased a new position in Maplebear in the 4th quarter valued at about $27,000. Allworth Financial LP grew its holdings in shares of Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after buying an additional 244 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Maplebear by 761.3% during the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after buying an additional 845 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Maplebear by 212.7% in the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after buying an additional 787 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in shares of Maplebear by 49.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,462 shares of the company’s stock valued at $66,000 after buying an additional 482 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CART shares. Barclays raised their target price on shares of Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Wall Street Zen lowered Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Wells Fargo & Company raised their price objective on Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Raymond James Financial raised Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Finally, Jefferies Financial Group upgraded Maplebear from a “hold” rating to a “buy” rating and upped their target price for the company from $38.00 to $45.00 in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.09.

Maplebear Stock Up 0.3%

NASDAQ:CART opened at $47.35 on Wednesday. The company has a market cap of $11.13 billion, a P/E ratio of 26.45, a P/E/G ratio of 0.65 and a beta of 0.88. The firm’s 50 day moving average is $42.21 and its two-hundred day moving average is $40.46. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50.

Maplebear (NASDAQ:CART) last announced 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). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 earnings per share. Research analysts forecast that Maplebear Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Transactions at Maplebear

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

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.