VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 83,450 Maplebear Inc. $CART

by · The Cerbat Gem

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Maplebear Inc. (NASDAQ:CART – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 83,450 shares of the company’s stock, valued at approximately $3,951,000.

Several other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP lifted its position in shares of Maplebear by 35.7% during the 3rd 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 last quarter. Smartleaf Asset Management LLC increased its holdings in Maplebear by 9.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after acquiring an additional 261 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in Maplebear by 2.5% in the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after acquiring an additional 273 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Maplebear by 5.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock valued at $236,000 after acquiring an additional 304 shares during the period. Finally, Aviva PLC lifted its holdings in Maplebear by 3.9% during the fourth quarter. Aviva PLC now owns 11,279 shares of the company’s stock valued at $507,000 after purchasing an additional 424 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ravi Gupta sold 150,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director owned 591,523 shares of the company’s stock, valued at approximately $29,936,979.03. This represents a 20.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Morgan Fong sold 18,390 shares of the stock in a transaction that occurred on 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 owned 529,911 shares in the company, valued at $26,474,353.56. This represents a 3.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 24.00% of the company’s stock.

Maplebear Stock Down 2.8%

CART stock opened at $46.64 on Thursday. The stock has a 50-day simple moving average of $47.95 and a two-hundred day simple moving average of $43.08. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $52.68. The firm has a market capitalization of $10.80 billion, a PE ratio of 25.49, a PEG ratio of 0.94 and a beta of 0.80.

Maplebear (NASDAQ:CART – Get Free Report) last announced its quarterly earnings results 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 return on equity of 20.19% and a net margin of 11.97%.The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts anticipate that Maplebear Inc. will post 2.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on CART. Guggenheim increased their target price on shares of Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Rosenblatt Securities started coverage on shares of Maplebear in a research note on Tuesday, September 1st. They set a “neutral” rating and a $55.00 price target on the stock. Needham & Company LLC raised their price objective on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a report on Friday, August 7th. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.14.

Get Our Latest Stock Analysis on Maplebear

About Maplebear

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CART? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maplebear Inc. (NASDAQ:CART – Free Report).