Teacher Retirement System of Texas Makes New Investment in Maplebear Inc. (NASDAQ:CART)

Teacher Retirement System of Texas bought a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 38,318 shares of the company's stock, valued at approximately $1,587,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CART. Jones Financial Companies Lllp boosted its position in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear during the third quarter valued at $33,000. Allworth Financial LP grew its position in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after acquiring an additional 420 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in Maplebear during the 4th quarter valued at about $62,000. Finally, PNC Financial Services Group Inc. grew its position in Maplebear by 243.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock worth $141,000 after purchasing an additional 2,409 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Maplebear

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the sale, the chief executive officer now owns 1,662,692 shares of the company's stock, valued at $72,011,190.52. The trade was a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,097 shares of company stock worth $1,087,094 in the last 90 days. 36.00% of the stock is owned by insiders.

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Maplebear Stock Performance

Shares of NASDAQ CART traded down $0.14 during mid-day trading on Wednesday, reaching $40.08. The company had a trading volume of 499,002 shares, compared to its average volume of 3,998,364. The stock has a fifty day moving average of $44.34 and a two-hundred day moving average of $43.59. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.19 and a beta of 1.34.

Maplebear (NASDAQ:CART - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.16. The company had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Sell-side analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Benchmark reissued a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. Barclays upped their price objective on shares of Maplebear from $56.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Needham & Company LLC restated a "buy" rating and set a $56.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Seaport Res Ptn upgraded shares of Maplebear to a "strong-buy" rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Maplebear from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.25.

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.