California State Teachers Retirement System Purchases 37,640 Shares of Maplebear Inc. $CART

California State Teachers Retirement System lifted its holdings in Maplebear Inc. (NASDAQ:CART) by 23.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 198,552 shares of the company’s stock after buying an additional 37,640 shares during the period. California State Teachers Retirement System’s holdings in Maplebear were worth $7,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Royal Bank of Canada grew its holdings in Maplebear by 51.2% during the first quarter. Royal Bank of Canada now owns 131,789 shares of the company’s stock valued at $5,256,000 after purchasing an additional 44,642 shares during the period. NewEdge Advisors LLC increased its holdings in Maplebear by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock worth $67,000 after acquiring an additional 698 shares during the period. Jones Financial Companies Lllp raised its position in shares of Maplebear by 358.5% in the first quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company’s stock worth $128,000 after buying an additional 2,502 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Maplebear by 17.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company’s stock valued at $15,585,000 after acquiring an additional 57,879 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in Maplebear in the first quarter valued at approximately $268,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the sale, the director owned 741,523 shares in the company, valued at $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 24.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CART shares. Wall Street Zen raised Maplebear from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Citizens Jmp reiterated a “market outperform” rating and set a $60.00 price objective on shares of Maplebear in a research report on Monday, June 15th. Barclays boosted their target price on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Wedbush began coverage on Maplebear in a research note on Thursday, July 16th. They issued an “outperform” rating and a $59.00 target price for the company. Finally, Wells Fargo & Company increased their price target on shares of Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and an average price target of $51.67.

Maplebear Price Performance

NASDAQ:CART opened at $45.65 on Wednesday. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50. The firm’s 50-day moving average price is $44.57 and its 200-day moving average price is $40.74. The company has a market capitalization of $10.73 billion, a PE ratio of 25.50, a P/E/G ratio of 0.62 and a beta of 0.78.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 earnings per share. Equities analysts anticipate that Maplebear Inc. will post 2.47 EPS for the current fiscal year.

About Maplebear

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.