14,100 Maplebear Inc. $CART Shares Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Maplebear Inc. (NASDAQ:CART) by 16.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 97,550 shares of the company’s stock after purchasing an additional 14,100 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Maplebear were worth $4,206,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Beacon Pointe Advisors LLC acquired a new position in shares of Maplebear during the 2nd quarter worth $9,006,000. Bank of America Corp DE grew its stake in Maplebear by 16.5% in the 1st quarter. Bank of America Corp DE now owns 1,562,097 shares of the company’s stock valued at $58,516,000 after acquiring an additional 221,036 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Maplebear in the 2nd quarter valued at about $6,117,000. Y Intercept Hong Kong Ltd purchased a new position in Maplebear during the 1st quarter valued at about $1,210,000. Finally, Bank of New York Mellon Corp purchased a new position in Maplebear during the 2nd quarter valued at about $45,239,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Key Maplebear News

Here are the key news stories impacting Maplebear this week:

• Negative Sentiment: Seven firms lowered their ratings on Maplebear to neutral-equivalent recommendations: Jefferies, Wedbush, Cantor Fitzgerald, Needham, Citizens JMP and Sanford C. Bernstein moved to “Hold,” while Barclays cut the stock to “Equal Weight.” Bernstein separately downgraded CART from “Outperform” to “Market Perform.” The concentrated shift indicates analysts are becoming more cautious about valuation and future upside. Jefferies downgrade Wedbush downgrade Cantor Fitzgerald downgrade Barclays downgrade Needham downgrade Citizens JMP downgrade Bernstein downgrade
• Negative Sentiment: SBS Law announced an opportunity for CART investors to participate in a fraud investigation involving Maplebear. The notice may weigh on sentiment and raise concerns about potential legal exposure, although it is an investigation announcement—not a finding that the company committed wrongdoing. SBS Law fraud investigation notice
• Neutral Sentiment: CART recently traded near the upper end of its 52-week range and above its 50-day and 200-day moving averages. With a market capitalization of approximately $13.1 billion and a P/E ratio near 29, the stock’s strong performance may have increased sensitivity to rating downgrades.

Maplebear Stock Performance

Shares of CART stock opened at $56.45 on Monday. The firm has a 50-day moving average price of $49.05 and a 200 day moving average price of $43.31. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $62.00. The company has a market capitalization of $13.07 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 1.12 and a beta of 0.87.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.03). The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. Maplebear had a return on equity of 22.50% and a net margin of 11.59%. Maplebear’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 earnings per share. As a group, research analysts predict that Maplebear Inc. will post 2.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Emily Reuter sold 50,000 shares of the stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $55.00, for a total transaction of $2,750,000.00. Following the transaction, the chief financial officer directly owned 599,337 shares in the company, valued at approximately $32,963,535. This represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Chris Rogers sold 24,665 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $60.00, for a total value of $1,479,900.00. Following the completion of the sale, the chief executive officer directly owned 867,911 shares in the company, valued at approximately $52,074,660. The trade was a 2.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 309,928 shares of company stock valued at $16,121,073. 24.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

CART has been the topic of several recent research reports. Needham & Company LLC downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a report on Friday. BNP Paribas Exane raised shares of Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price objective for the company in a research note on Friday, August 7th. Wedbush downgraded Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Friday. Citizens Jmp lowered Maplebear from a “market outperform” rating to a “hold” rating in a research note on Friday. Finally, Rosenblatt Securities started coverage on Maplebear in a research note on Tuesday, September 1st. They issued a “neutral” rating and a $55.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $58.33.

About Maplebear

Maplebear Inc, doing business as Instacart, operates a technology-enabled grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can order groceries and other household products for delivery or pickup from participating supermarkets, specialty food stores, convenience retailers and other merchants.

The company also provides retailers with e-commerce, fulfillment and advertising solutions. Its platform supports online storefronts, order management, delivery logistics, customer engagement and data-driven marketing, allowing retail partners to offer digital shopping services and reach consumers through Instacart’s marketplace.

Founded in 2012, Maplebear serves customers across the United States and Canada.