Pacer Advisors Inc. Buys 242,468 Shares of Maplebear Inc. $CART

Pacer Advisors Inc. grew its stake in shares of Maplebear Inc. (NASDAQ:CART) by 21.5% in the 1st quarter, HoldingsChannel reports. The fund owned 1,370,619 shares of the company’s stock after purchasing an additional 242,468 shares during the quarter. Pacer Advisors Inc.’s holdings in Maplebear were worth $51,343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CART. Viking Global Investors LP acquired a new position in shares of Maplebear in the second quarter valued at approximately $169,782,000. Marshall Wace LLP acquired a new stake in shares of Maplebear during the fourth quarter worth $126,206,000. Norges Bank bought a new stake in shares of Maplebear in the fourth quarter valued at about $97,221,000. Dimensional Fund Advisors LP grew its stake in shares of Maplebear by 114.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock valued at $170,594,000 after acquiring an additional 2,026,567 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Maplebear by 401.4% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,281,452 shares of the company’s stock valued at $102,620,000 after acquiring an additional 1,826,402 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Up 1.8%

CART opened at $45.39 on Tuesday. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50. The company has a 50-day simple moving average of $44.46 and a 200 day simple moving average of $40.71. The stock has a market capitalization of $10.67 billion, a price-to-earnings ratio of 25.36, a P/E/G ratio of 0.61 and a beta of 0.78.

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

Wall Street Analysts Forecast Growth

CART has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Maplebear in a research note on Thursday, May 7th. Guggenheim raised their target price on shares of Maplebear from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Barclays lifted their price target on shares of Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Wells Fargo & Company boosted their price target on Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $60.00 price target on shares of Maplebear in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.67.

Insider Buying and Selling at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were 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. This trade represents a 19.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 24.00% of the company’s stock.

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.