VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 68,600 Maplebear Inc. $CART

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Maplebear Inc. (NASDAQ:CART) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 68,600 shares of the company’s stock, valued at approximately $3,103,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CART. William Blair Investment Management LLC acquired a new position in shares of Maplebear during the 2nd quarter worth $151,364,000. Victory Capital Management Inc. raised its stake in shares of Maplebear by 62.8% during the 1st quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company’s stock worth $293,919,000 after buying an additional 2,841,559 shares during the last quarter. Champlain Investment Partners LLC acquired a new position in shares of Maplebear during the 1st quarter worth $52,333,000. Westfield Capital Management Co. LP acquired a new position in shares of Maplebear during the 1st quarter worth $48,639,000. Finally, Invesco Ltd. raised its stake in shares of Maplebear by 82.5% during the 1st quarter. Invesco Ltd. now owns 2,575,624 shares of the company’s stock worth $102,742,000 after buying an additional 1,164,702 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CART. Barclays lifted their price target on Maplebear from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Stifel Nicolaus cut their target price on shares of Maplebear from $64.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Morgan Stanley boosted their target price on shares of Maplebear from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Friday, August 15th. Citigroup boosted their target price on shares of Maplebear from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Finally, Wedbush reissued an “underperform” rating and issued a $42.00 target price (down previously from $55.00) on shares of Maplebear in a research note on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.40.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 3,546 shares of Maplebear stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $42.39, for a total value of $150,314.94. Following the completion of the sale, the general counsel owned 431,069 shares in the company, valued at $18,273,014.91. The trade was a 0.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Chris Rogers sold 9,259 shares of Maplebear stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $42.37, for a total value of $392,303.83. Following the completion of the sale, the chief executive officer owned 739,880 shares of the company’s stock, valued at $31,348,715.60. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,894,922 shares of company stock worth $233,642,708 over the last 90 days. Corporate insiders own 26.00% of the company’s stock.

Maplebear Price Performance

CART opened at $38.95 on Tuesday. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10. The business has a 50-day moving average of $42.61 and a two-hundred day moving average of $44.25. Maplebear Inc. has a 12 month low of $34.87 and a 12 month high of $53.50.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $914.00 million during the quarter, compared to analysts’ expectations of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 EPS. Equities research analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

About Maplebear

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.