Teacher Retirement System of Texas Decreases Stock Holdings in Maplebear Inc. $CART

Teacher Retirement System of Texas cut its holdings in Maplebear Inc. (NASDAQ:CART) by 29.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,591 shares of the company’s stock after selling 15,013 shares during the quarter. Teacher Retirement System of Texas’ holdings in Maplebear were worth $1,308,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. State Street Corp lifted its position in Maplebear by 1.3% during the second quarter. State Street Corp now owns 5,101,870 shares of the company’s stock valued at $230,809,000 after purchasing an additional 66,588 shares during the last quarter. Boston Partners raised its position in shares of Maplebear by 93.3% during the 2nd quarter. Boston Partners now owns 3,961,838 shares of the company’s stock valued at $179,261,000 after buying an additional 1,911,771 shares in the last quarter. Viking Global Investors LP bought a new position in shares of Maplebear in the 2nd quarter valued at about $169,782,000. William Blair Investment Management LLC purchased a new position in Maplebear in the second quarter worth about $151,364,000. Finally, Federated Hermes Inc. grew its position in Maplebear by 12.3% in the second quarter. Federated Hermes Inc. now owns 3,179,537 shares of the company’s stock worth $143,842,000 after acquiring an additional 347,153 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $37.16 on Monday. The firm’s 50 day simple moving average is $42.62 and its 200-day simple moving average is $42.72. Maplebear Inc. has a one year low of $34.78 and a one year high of $53.50. The firm has a market cap of $9.76 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.00.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Monday, November 10th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The company had revenue of $939.00 million for the quarter, compared to the consensus estimate of $933.76 million. During the same period last year, the business posted $0.42 EPS. Maplebear’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts predict that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $45.21, for a total transaction of $222,161.94. Following the transaction, the general counsel directly owned 404,940 shares in the company, valued at $18,307,337.40. This represents a 1.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 26.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CART shares. Stifel Nicolaus lowered their price objective on Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Benchmark cut their price objective on shares of Maplebear from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Argus began coverage on shares of Maplebear in a report on Wednesday, January 7th. They issued a “buy” rating and a $52.00 target price for the company. Exane BNP Paribas raised shares of Maplebear to a “strong sell” rating in a research note on Wednesday, January 14th. Finally, BNP Paribas Exane started coverage on shares of Maplebear in a research report on Wednesday, January 14th. They issued an “underperform” rating and a $41.00 price objective on the stock. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $51.62.

Maplebear Profile

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.