Maplebear Inc. $CART Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its stake in Maplebear Inc. (NASDAQ:CART) by 12.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,922 shares of the company’s stock after acquiring an additional 14,188 shares during the period. Illinois Municipal Retirement Fund’s holdings in Maplebear were worth $4,942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CART. US Bancorp DE boosted its stake in Maplebear by 17.0% during the 4th quarter. US Bancorp DE now owns 437,658 shares of the company’s stock valued at $19,686,000 after purchasing an additional 63,666 shares in the last quarter. Ruffer LLP acquired a new position in shares of Maplebear during the 4th quarter valued at $2,567,000. CWM LLC raised its stake in shares of Maplebear by 1,741.4% in the 4th quarter. CWM LLC now owns 30,088 shares of the company’s stock worth $1,353,000 after buying an additional 28,454 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Maplebear by 1,076.1% in the 4th quarter. SG Americas Securities LLC now owns 273,379 shares of the company’s stock worth $12,297,000 after buying an additional 250,135 shares in the last quarter. Finally, Horizon Investments LLC lifted its holdings in shares of Maplebear by 263,556.8% in the fourth quarter. Horizon Investments LLC now owns 116,009 shares of the company’s stock valued at $5,218,000 after buying an additional 115,965 shares during the period. 63.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on CART shares. Citizens Jmp reaffirmed a “market outperform” rating and set a $60.00 target price on shares of Maplebear in a report on Monday, June 15th. Jefferies Financial Group raised shares of Maplebear from a “hold” rating to a “buy” rating and upped their price target for the company from $38.00 to $45.00 in a report on Monday, March 30th. Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Maplebear in a report on Thursday, May 7th. Finally, Wedbush assumed coverage on shares of Maplebear in a report on Thursday. They issued an “outperform” rating and a $59.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and an average target price of $51.86.

Maplebear Stock Down 0.9%

Shares of NASDAQ CART opened at $45.82 on Friday. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 0.63 and a beta of 0.75. The stock’s fifty day simple moving average is $43.50 and its 200 day simple moving average is $40.65. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50.

Maplebear (NASDAQ:CART) last announced its earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, analysts anticipate that Maplebear Inc. will post 2.46 earnings per share for the current year.

Insiders Place Their Bets

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was 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 approximately $30,780,619.73. The trade was a 19.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 24.00% of the company’s stock.

Maplebear Company 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.