VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in Maplebear Inc. $CART

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 83,450 shares of the company’s stock, valued at approximately $3,951,000.

Other hedge funds have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new stake in shares of Maplebear during the 1st quarter valued at about $25,000. PenderFund Capital Management Ltd. acquired a new position in Maplebear in the fourth quarter valued at approximately $27,000. Allworth Financial LP lifted 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 buying an additional 244 shares during the period. IFP Advisors Inc boosted its holdings 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 in the last quarter. Finally, Sunbelt Securities Inc. grew its position in shares of Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after buying an additional 787 shares during the period. 63.09% of the stock is owned by institutional investors.

Insider Transactions at Maplebear

In related news, Director Ravi Gupta sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the completion of the sale, the director owned 591,523 shares in the company, valued at approximately $29,936,979.03. This trade represents a 20.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Morgan Fong sold 18,390 shares of Maplebear stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $49.96, for a total transaction of $918,764.40. Following the completion of the sale, the insider directly owned 529,911 shares in the company, valued at approximately $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. 24.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

CART has been the topic of a number of research reports. Wedbush assumed coverage on shares of Maplebear in a research report on Thursday, July 16th. They set an “outperform” rating and a $59.00 target price on the stock. Guggenheim raised their price target on shares of Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $60.00 target price on shares of Maplebear in a research report on Monday, June 15th. Wells Fargo & Company upped their price objective on shares of Maplebear from $47.00 to $54.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Benchmark increased their price objective on Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.14.

Maplebear Trading Down 2.8%

Shares of CART opened at $46.64 on Thursday. The stock has a 50 day moving average of $47.95 and a 200 day moving average of $43.08. The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 0.94 and a beta of 0.80. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $52.68.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, equities research analysts predict that Maplebear Inc. will post 2.33 earnings per share for the current year.

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.