Public Employees Retirement System of Ohio Makes New $2.57 Million Investment in Maplebear Inc. $CART

Public Employees Retirement System of Ohio acquired a new stake in Maplebear Inc. (NASDAQ:CART) during the second quarter, HoldingsChannel.com reports. The fund acquired 54,235 shares of the company’s stock, valued at approximately $2,568,000.

Several other institutional investors have also modified their holdings of CART. PenderFund Capital Management Ltd. purchased a new position in Maplebear in the fourth quarter valued at $27,000. Pinnacle Bancorp Inc. purchased a new position in Maplebear in the first quarter valued at approximately $25,000. Allworth Financial LP increased its stake in Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after purchasing an additional 244 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Maplebear by 761.3% during the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after buying an additional 845 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after buying an additional 787 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Down 1.3%

Shares of NASDAQ:CART opened at $51.07 on Friday. The company has a market cap of $11.82 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 1.00 and a beta of 0.80. The firm’s 50-day simple moving average is $47.82 and its 200-day simple moving average is $42.77. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $52.68.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.09). The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share. On average, research analysts forecast that Maplebear Inc. will post 2.33 EPS for the current year.

Insider Activity at Maplebear

In related news, Director Ravi Gupta sold 150,000 shares of Maplebear stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total value of $7,591,500.00. Following the sale, the director directly owned 591,523 shares in the company, valued at $29,936,979.03. The trade was a 20.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Morgan Fong sold 18,390 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $49.96, for a total value of $918,764.40. Following the transaction, the insider directly owned 529,911 shares in the company, valued at $26,474,353.56. This represents a 3.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 24.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Maplebear from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Barclays lifted their target price on Maplebear from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Guggenheim upped their target price on Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Maplebear in a research note on Friday, August 7th. Finally, Rosenblatt Securities started coverage on Maplebear in a research report on Tuesday, September 1st. They set a “neutral” rating and a $55.00 price target on the stock. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.14.

Maplebear 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.