Louisiana State Employees Retirement System Takes $2 Million Position in Maplebear Inc. $CART

Louisiana State Employees Retirement System acquired a new stake in Maplebear Inc. (NASDAQ:CART) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 53,300 shares of the company’s stock, valued at approximately $1,997,000.

A number of other hedge funds have also made changes to their positions in the stock. Allworth Financial LP grew its holdings in Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after acquiring an additional 244 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Maplebear by 9.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after buying an additional 261 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Maplebear by 2.5% in the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after acquiring an additional 273 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Maplebear by 5.0% in the third quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock valued at $236,000 after purchasing an additional 304 shares during the period. Finally, Aviva PLC increased its position in Maplebear by 3.9% in the 4th quarter. Aviva PLC now owns 11,279 shares of the company’s stock valued at $507,000 after acquiring an additional 424 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Activity

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of Maplebear stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the transaction, the chief accounting officer owned 58,971 shares of the company’s stock, valued at $2,373,582.75. The trade was a 13.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the transaction, 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 Stock Up 0.3%

Shares of Maplebear stock opened at $47.35 on Wednesday. The stock has a market cap of $11.13 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 0.65 and a beta of 0.88. The business has a fifty day simple moving average of $42.21 and a 200-day simple moving average of $40.46. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CART. Barclays raised their price target on Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Maplebear in a research note on Thursday, May 7th. Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Finally, Argus upgraded shares of Maplebear to a “strong-buy” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.09.

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.