Maplebear Inc. (NASDAQ:CART) Stock Position Trimmed by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its position in Maplebear Inc. (NASDAQ:CART) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,658 shares of the company’s stock after selling 3,113 shares during the period. Public Employees Retirement System of Ohio’s holdings in Maplebear were worth $2,675,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Investment House LLC bought a new position in Maplebear in the 2nd quarter valued at about $750,000. Lecap Asset Management Ltd. bought a new stake in Maplebear during the second quarter worth approximately $704,000. Bank of New York Mellon Corp lifted its position in Maplebear by 936.7% in the second quarter. Bank of New York Mellon Corp now owns 489,761 shares of the company’s stock worth $15,741,000 after purchasing an additional 442,517 shares during the period. State of Michigan Retirement System bought a new position in Maplebear during the 2nd quarter valued at $484,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of Maplebear during the 2nd quarter valued at $637,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $42.58 on Tuesday. The stock has a market capitalization of $10.94 billion, a P/E ratio of 28.58, a P/E/G ratio of 1.08 and a beta of 0.94. The business has a 50-day moving average of $43.81 and a two-hundred day moving average of $37.96. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $50.01.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same period in the previous year, the company earned ($20.86) EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, research analysts expect that Maplebear Inc. will post 1.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Maplebear news, General Counsel Morgan Fong sold 29,253 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.03, for a total value of $1,405,021.59. Following the sale, the general counsel now owns 258,406 shares of the company’s stock, valued at $12,411,240.18. This trade represents a 10.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Alan Ramsay sold 2,559 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $42.97, for a total transaction of $109,960.23. Following the transaction, the chief accounting officer now directly owns 96,666 shares in the company, valued at $4,153,738.02. This trade represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 110,954 shares of company stock valued at $4,890,405. Company insiders own 36.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CART. Oppenheimer raised their target price on Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. JMP Securities raised their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Raymond James started coverage on Maplebear in a report on Tuesday, September 24th. They issued a “market perform” rating on the stock. Robert W. Baird raised their price objective on Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Macquarie boosted their target price on Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Thirteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.14.

Maplebear Profile

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.