State of Wyoming Invests $692,000 in Maplebear Inc. $CART

State of Wyoming acquired a new stake in Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,618 shares of the company’s stock, valued at approximately $692,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Viking Global Investors LP purchased a new stake in Maplebear during the 2nd quarter worth about $169,782,000. Marshall Wace LLP acquired a new position in shares of Maplebear during the fourth quarter worth about $126,206,000. Norges Bank acquired a new position in shares of Maplebear during the fourth quarter worth about $97,221,000. Dimensional Fund Advisors LP increased its stake in shares of Maplebear by 114.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock worth $170,594,000 after buying an additional 2,026,567 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Maplebear by 401.4% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,281,452 shares of the company’s stock valued at $102,620,000 after acquiring an additional 1,826,402 shares in the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CART shares. Needham & Company LLC boosted their price target on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Oppenheimer raised their price objective on shares of Maplebear from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a research note on Friday, August 7th. JPMorgan Chase & Co. increased their target price on Maplebear from $55.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $60.00 price target on shares of Maplebear in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.90.

Insider Buying and Selling at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the sale, the director directly owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This represents a 19.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 24.00% of the company’s stock.

Maplebear Stock Performance

Shares of Maplebear stock opened at $48.88 on Monday. The company has a fifty day simple moving average of $45.81 and a 200-day simple moving average of $41.26. The stock has a market cap of $11.32 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 0.72 and a beta of 0.78. Maplebear Inc. has a 12-month low of $32.73 and a 12-month high of $51.06.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%.Maplebear’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, analysts forecast that Maplebear Inc. will post 2.33 earnings per share for the current fiscal year.

Maplebear Company 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.