Maplebear Inc. (NASDAQ:CART) Holdings Boosted by New York State Teachers Retirement System

New York State Teachers Retirement System raised its position in shares of Maplebear Inc. (NASDAQ:CART) by 704.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,824 shares of the company’s stock after purchasing an additional 13,856 shares during the quarter. New York State Teachers Retirement System’s holdings in Maplebear were worth $645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CART. Oppenheimer & Co. Inc. purchased a new stake in shares of Maplebear in the first quarter worth approximately $213,000. Donoghue Forlines LLC purchased a new stake in Maplebear in the 1st quarter worth approximately $262,000. Russell Investments Group Ltd. acquired a new stake in shares of Maplebear during the 1st quarter valued at $1,663,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Maplebear during the 1st quarter valued at $6,462,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Maplebear in the first quarter worth $28,674,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Price Performance

Maplebear stock opened at $47.72 on Monday. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $50.01. The stock has a fifty day moving average price of $41.15 and a two-hundred day moving average price of $36.26. The firm has a market capitalization of $12.45 billion, a P/E ratio of -2.41, a P/E/G ratio of 1.48 and a beta of 1.12.

Insider Buying and Selling at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 29,253 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $48.03, for a total value of $1,405,021.59. Following the transaction, the general counsel now owns 258,406 shares of the company’s stock, valued at approximately $12,411,240.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $44.39, for a total value of $921,092.50. Following the completion of the sale, the chief executive officer now owns 1,803,278 shares of the company’s stock, valued at $80,047,510.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Morgan Fong sold 29,253 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the completion of the transaction, the general counsel now owns 258,406 shares of the company’s stock, valued at $12,411,240.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,710 shares of company stock worth $4,978,164 over the last ninety days. Corporate insiders own 36.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CART. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Maplebear in a research report on Monday, October 7th. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Oppenheimer increased their price objective on Maplebear from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Raymond James began coverage on shares of Maplebear in a research note on Tuesday, September 24th. They issued a “market perform” rating for the company. Finally, Macquarie increased their price target on shares of Maplebear from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Maplebear currently has an average rating of “Moderate Buy” and a consensus price target of $43.90.

Maplebear Profile

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.