New York State Teachers Retirement System Buys 13,856 Shares of Maplebear Inc. (NASDAQ:CART)

New York State Teachers Retirement System raised its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 704.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,824 shares of the company's stock after acquiring an additional 13,856 shares during the quarter. New York State Teachers Retirement System's holdings in Maplebear were worth $645,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CART. Creative Planning increased its position in shares of Maplebear by 9.5% during the second quarter. Creative Planning now owns 9,566 shares of the company's stock worth $307,000 after buying an additional 831 shares during the period. nVerses Capital LLC increased its position in shares of Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company's stock worth $55,000 after buying an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Maplebear during the third quarter worth $74,000. Exchange Traded Concepts LLC increased its position in shares of Maplebear by 3.2% during the third quarter. Exchange Traded Concepts LLC now owns 64,943 shares of the company's stock worth $2,646,000 after buying an additional 1,993 shares during the period. Finally, Great Valley Advisor Group Inc. increased its position in shares of Maplebear by 32.1% during the second quarter. Great Valley Advisor Group Inc. now owns 10,300 shares of the company's stock worth $331,000 after buying an additional 2,500 shares during the period. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CART has been the subject of several recent analyst reports. Macquarie increased their price objective on shares of Maplebear from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Piper Sandler raised their price target on shares of Maplebear from $47.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. Morgan Stanley reduced their price target on shares of Maplebear from $45.00 to $41.00 and set an "equal weight" rating for the company in a report on Tuesday, September 24th. Cantor Fitzgerald restated an "overweight" rating and issued a $45.00 price target on shares of Maplebear in a report on Monday, October 7th. Finally, Wedbush raised their price target on shares of Maplebear from $35.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Twelve investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $43.90.

Maplebear Stock Up 0.0 %

Shares of CART traded up $0.02 during trading hours on Monday, reaching $47.74. 3,362,482 shares of the stock traded hands, compared to its average volume of 3,915,032. The stock has a fifty day simple moving average of $41.15 and a 200 day simple moving average of $36.27. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $50.01.

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 29,253 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the transaction, the general counsel now directly owns 258,406 shares of the company's stock, valued at $12,411,240.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Maplebear news, CEO Fidji Simo sold 33,000 shares of Maplebear stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total value of $1,163,910.00. Following the sale, the chief executive officer now owns 1,844,778 shares of the company's stock, valued at approximately $65,065,320.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Morgan Fong sold 29,253 shares of Maplebear stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the completion of the sale, the general counsel now directly owns 258,406 shares in the company, valued at approximately $12,411,240.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,710 shares of company stock valued at $4,978,164 over the last ninety days. Corporate insiders own 36.00% of the company's stock.

Maplebear Company 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.