Pacer Advisors Inc. Has $50.74 Million Stake in Maplebear Inc. $CART

Pacer Advisors Inc. raised its holdings in Maplebear Inc. (NASDAQ:CART) by 43.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,128,151 shares of the company’s stock after purchasing an additional 342,283 shares during the period. Pacer Advisors Inc.’s holdings in Maplebear were worth $50,744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CART. PenderFund Capital Management Ltd. acquired a new stake in shares of Maplebear in the fourth quarter valued at approximately $27,000. Allworth Financial LP boosted its stake in shares of Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after buying an additional 244 shares during the period. IFP Advisors Inc grew its position in Maplebear by 761.3% during the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after buying an additional 845 shares in the last quarter. Sunbelt Securities Inc. grew its position in Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after buying an additional 787 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in Maplebear by 49.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,462 shares of the company’s stock worth $66,000 after acquiring an additional 482 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analysts Set New Price Targets

CART has been the subject of several analyst reports. Citizens Jmp reaffirmed a “market outperform” rating and issued a $60.00 price objective on shares of Maplebear in a report on Monday, June 15th. Wall Street Zen cut Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings raised Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Jefferies Financial Group raised shares of Maplebear from a “hold” rating to a “buy” rating and upped their price objective for the stock from $38.00 to $45.00 in a research report on Monday, March 30th. Finally, Barclays increased their price objective on shares of Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.09.

Maplebear Stock Performance

CART stock opened at $44.55 on Friday. The stock has a market capitalization of $10.47 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 0.61 and a beta of 0.88. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50. The firm has a 50-day moving average price of $41.36 and a 200-day moving average price of $40.33.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. As a group, equities analysts predict that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the completion of the transaction, the chief accounting officer directly owned 58,971 shares in the company, valued at approximately $2,373,582.75. This represents a 13.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction on 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 sale, the director owned 741,523 shares in the company, valued at $30,780,619.73. This represents a 19.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 24.00% of the company’s stock.

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.