Treasurer of the State of North Carolina Sells 2,070 Shares of Maplebear Inc. (NASDAQ:CART)

Treasurer of the State of North Carolina lowered its position in shares of Maplebear Inc. (NASDAQ:CART) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,121 shares of the company’s stock after selling 2,070 shares during the period. Treasurer of the State of North Carolina’s holdings in Maplebear were worth $3,029,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. raised its position in shares of Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock worth $187,495,000 after buying an additional 4,487,654 shares in the last quarter. Boston Partners purchased a new stake in shares of Maplebear in the 4th quarter valued at about $111,506,000. Vanguard Group Inc. raised its holdings in shares of Maplebear by 16.8% in the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock valued at $661,409,000 after acquiring an additional 2,300,288 shares in the last quarter. Norges Bank bought a new stake in shares of Maplebear during the 4th quarter valued at about $95,162,000. Finally, Geode Capital Management LLC grew its holdings in shares of Maplebear by 151.7% during the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after purchasing an additional 1,647,081 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on CART shares. Loop Capital lowered their price objective on shares of Maplebear from $56.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Seaport Res Ptn upgraded Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus upped their price objective on Maplebear from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. FBN Securities began coverage on Maplebear in a research report on Friday, March 28th. They set a “sector perform” rating and a $44.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their target price on Maplebear from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Twelve research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.61.

Maplebear Stock Up 0.5 %

CART stock opened at $42.08 on Thursday. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 1.19 and a beta of 1.20. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44. The business’s fifty day simple moving average is $42.26 and its two-hundred day simple moving average is $43.47.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16. The firm 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%. Research analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Fidji Simo sold 8,133 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $41.60, for a total transaction of $338,332.80. Following the sale, the chief executive officer now directly owns 1,646,426 shares in the company, valued at $68,491,321.60. This trade represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,230 shares of company stock worth $1,425,427 over the last 90 days. Company insiders own 36.00% of the company’s stock.

Maplebear Company 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.