38,318 Shares in Maplebear Inc. (NASDAQ:CART) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new stake in Maplebear Inc. (NASDAQ:CART) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 38,318 shares of the company’s stock, valued at approximately $1,587,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CART. Charles Schwab Investment Management Inc. increased its holdings in shares of Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after acquiring an additional 1,461,501 shares during the last quarter. Cerity Partners LLC acquired a new position in Maplebear in the third quarter valued at approximately $1,442,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Maplebear by 95.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,258 shares of the company’s stock valued at $1,233,000 after purchasing an additional 14,750 shares in the last quarter. Vinva Investment Management Ltd acquired a new stake in Maplebear during the third quarter worth approximately $212,000. Finally, Verition Fund Management LLC lifted its position in shares of Maplebear by 54.0% during the 3rd quarter. Verition Fund Management LLC now owns 630,809 shares of the company’s stock worth $25,699,000 after buying an additional 221,091 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Alan Ramsay sold 2,314 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the sale, the chief executive officer now directly owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. The trade was a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,097 shares of company stock valued at $1,087,094. 36.00% of the stock is owned by insiders.

Maplebear Stock Down 1.9 %

Shares of NASDAQ CART opened at $39.73 on Friday. The stock has a market capitalization of $10.51 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The firm has a 50-day moving average price of $44.59 and a 200 day moving average price of $43.42.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The company had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Equities research analysts expect that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on CART. Macquarie increased their target price on shares of Maplebear from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. BTIG Research raised Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Tuesday, January 14th. Wells Fargo & Company started coverage on Maplebear in a report on Friday, January 10th. They issued an “equal weight” rating and a $47.00 target price for the company. BMO Capital Markets raised their price target on Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of Maplebear in a research report on Wednesday, February 26th. Fourteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and an average price target of $50.25.

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.