California Public Employees Retirement System Sells 1,756 Shares of Maplebear Inc. (NASDAQ:CART)

California Public Employees Retirement System lowered its stake in Maplebear Inc. (NASDAQ:CART) by 0.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 274,269 shares of the company’s stock after selling 1,756 shares during the quarter. California Public Employees Retirement System’s holdings in Maplebear were worth $11,360,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its stake in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares during the period. Allworth Financial LP increased its stake in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after purchasing an additional 420 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Maplebear by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 8,554 shares of the company’s stock valued at $354,000 after purchasing an additional 440 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Maplebear by 1.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock valued at $1,294,000 after purchasing an additional 490 shares during the period. Finally, Pier Capital LLC lifted its stake in shares of Maplebear by 0.4% during the 3rd quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock valued at $6,176,000 after buying an additional 616 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Price Performance

Maplebear stock opened at $37.37 on Friday. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. The firm has a 50-day moving average of $43.98 and a two-hundred day moving average of $43.58. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $883.00 million for the quarter, compared to analysts’ expectations of $889.98 million. Research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 2,314 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the transaction, the chief executive officer now directly owns 1,654,559 shares in the company, valued at approximately $66,182,360. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,097 shares of company stock worth $1,087,094 in the last three months. Corporate insiders own 36.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CART. BMO Capital Markets raised their price target on Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Loop Capital dropped their price target on Maplebear from $56.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Oppenheimer lowered their target price on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Bank of America raised their target price on shares of Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Finally, Morgan Stanley increased their price objective on shares of Maplebear from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.13.

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.