Pacer Advisors Inc. Has $51.34 Million Stock Position in Maplebear Inc. $CART

Pacer Advisors Inc. lifted its stake in Maplebear Inc. (NASDAQ:CART) by 21.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,370,619 shares of the company’s stock after purchasing an additional 242,468 shares during the period. Pacer Advisors Inc. owned 0.58% of Maplebear worth $51,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CART. Viking Global Investors LP acquired a new position in Maplebear in the second quarter valued at about $169,782,000. Marshall Wace LLP acquired a new position in shares of Maplebear during the 4th quarter worth about $126,206,000. Norges Bank bought a new stake in shares of Maplebear in the 4th quarter valued at about $97,221,000. Dimensional Fund Advisors LP increased its stake in shares of Maplebear by 114.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock valued at $170,594,000 after acquiring an additional 2,026,567 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Maplebear by 401.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,281,452 shares of the company’s stock valued at $102,620,000 after acquiring an additional 1,826,402 shares during the period. Institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling at Maplebear

In related news, 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 transaction of $7,513,310.00. Following the transaction, the director directly owned 741,523 shares in the company, valued at approximately $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 24.00% of the company’s stock.

Maplebear Stock Up 1.8%

Shares of CART opened at $45.39 on Tuesday. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50. The company has a 50 day moving average of $44.46 and a 200-day moving average of $40.71. The stock has a market capitalization of $10.67 billion, a P/E ratio of 25.36, a P/E/G ratio of 0.61 and a beta of 0.78.

Maplebear (NASDAQ:CART) last issued its quarterly 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 business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the firm earned $0.37 earnings per share. On average, sell-side analysts anticipate that Maplebear Inc. will post 2.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

CART has been the subject of a number of analyst reports. Wedbush began coverage on shares of Maplebear in a report on Thursday, July 16th. They set an “outperform” rating and a $59.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Citizens Jmp reissued a “market outperform” rating and set a $60.00 price target on shares of Maplebear in a research report on Monday, June 15th. Barclays boosted their price target on shares of Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Maplebear in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.67.

About Maplebear

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.