Louisiana State Employees Retirement System Grows Stock Holdings in Maplebear Inc. $CART

Louisiana State Employees Retirement System boosted its holdings in Maplebear Inc. (NASDAQ:CART) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,200 shares of the company’s stock after buying an additional 900 shares during the period. Louisiana State Employees Retirement System’s holdings in Maplebear were worth $2,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of CART. Proathlete Wealth Management LLC purchased a new position in Maplebear in the 1st quarter valued at approximately $26,000. UMB Bank n.a. grew its position in shares of Maplebear by 914.1% during the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock valued at $40,000 after purchasing an additional 905 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Maplebear during the 1st quarter valued at $40,000. Spire Wealth Management purchased a new position in shares of Maplebear during the 1st quarter valued at $41,000. Finally, CWM LLC grew its position in shares of Maplebear by 35.1% during the 1st quarter. CWM LLC now owns 1,058 shares of the company’s stock valued at $42,000 after purchasing an additional 275 shares in the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Stock Performance

NASDAQ CART opened at $38.31 on Friday. Maplebear Inc. has a 52-week low of $34.87 and a 52-week high of $53.50. The company has a market capitalization of $10.09 billion, a P/E ratio of 22.14, a P/E/G ratio of 1.31 and a beta of 1.10. The company has a fifty day moving average of $43.87 and a 200-day moving average of $44.22.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The company had revenue of $914.00 million during the quarter, compared to the consensus estimate of $896.55 million. During the same period in the previous year, the firm posted $0.20 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Mizuho assumed coverage on shares of Maplebear in a research report on Tuesday, September 30th. They set a “neutral” rating and a $45.00 price target for the company. Sanford C. Bernstein boosted their price target on shares of Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Benchmark upgraded shares of Maplebear from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Friday, August 8th. Piper Sandler lowered shares of Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price target for the company. in a research report on Friday, October 3rd. Finally, Citigroup lifted their price objective on shares of Maplebear from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Maplebear presently has a consensus rating of “Moderate Buy” and an average target price of $53.42.

Insiders Place Their Bets

In other Maplebear news, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $47.75, for a total value of $232,268,988.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Danker sold 10,037 shares of the business’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $48.82, for a total transaction of $490,006.34. Following the completion of the sale, the insider directly owned 470,190 shares of the company’s stock, valued at $22,954,675.80. This represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,986,367 shares of company stock valued at $238,211,261 over the last three months. 26.00% of the stock is currently owned by company insiders.

Maplebear 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.