31,233 Shares in Maplebear Inc. $CART Purchased by Strs Ohio

Strs Ohio bought a new position in shares of Maplebear Inc. (NASDAQ:CART) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 31,233 shares of the company’s stock, valued at approximately $1,246,000.

Other hedge funds have also recently bought and sold shares of the company. Proathlete Wealth Management LLC acquired a new position in Maplebear during the first quarter worth about $26,000. UMB Bank n.a. grew its holdings in Maplebear by 914.1% during the first quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock worth $40,000 after acquiring an additional 905 shares during the period. Brooklyn Investment Group purchased a new position in Maplebear in the 1st quarter worth about $40,000. Spire Wealth Management purchased a new position in Maplebear in the 1st quarter worth about $41,000. Finally, CWM LLC increased its stake in Maplebear by 35.1% in the 1st quarter. CWM LLC now owns 1,058 shares of the company’s stock worth $42,000 after purchasing an additional 275 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CART. Robert W. Baird dropped their price target on Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, August 22nd. Needham & Company LLC lifted their price target on Maplebear from $56.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Benchmark raised Maplebear from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Friday, August 8th. Stifel Nicolaus lifted their price target on Maplebear from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Finally, Citigroup lifted their price target on Maplebear from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and a consensus target price of $55.58.

Maplebear Price Performance

NASDAQ CART opened at $44.88 on Thursday. The company has a 50 day simple moving average of $46.65 and a 200-day simple moving average of $44.11. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 1.53 and a beta of 1.21. Maplebear Inc. has a 52-week low of $35.14 and a 52-week high of $53.50.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $914.00 million during the quarter, compared to analyst estimates of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 earnings per share. On average, analysts predict that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Transactions at Maplebear

In other news, insider Daniel Danker sold 10,037 shares of Maplebear stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $48.82, for a total transaction of $490,006.34. Following the completion of the sale, the insider directly owned 470,190 shares in the company, valued at $22,954,675.80. The trade was a 2.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Grosvenor L.P. Gcm sold 4,864,272 shares of Maplebear stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $47.75, for a total value of $232,268,988.00. The disclosure for this sale can be found here. Insiders have sold 4,978,242 shares of company stock valued at $237,874,094 in the last quarter. Corporate insiders own 26.00% of the company’s stock.

About Maplebear

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.