Strs Ohio Has $151,000 Holdings in Maplebear Inc. $CART

Strs Ohio trimmed its position in shares of Maplebear Inc. (NASDAQ:CART) by 87.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,120 shares of the company’s stock after selling 29,484 shares during the quarter. Strs Ohio’s holdings in Maplebear were worth $151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CART. Viking Global Investors LP bought a new position in shares of Maplebear in the second quarter valued at $169,782,000. William Blair Investment Management LLC acquired a new stake in shares of Maplebear in the 2nd quarter worth about $151,364,000. Norges Bank bought a new position in Maplebear in the 2nd quarter valued at about $97,351,000. Boston Partners boosted its stake in Maplebear by 93.3% during the 2nd quarter. Boston Partners now owns 3,961,838 shares of the company’s stock valued at $179,261,000 after purchasing an additional 1,911,771 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Maplebear by 130.2% during the 2nd quarter. American Century Companies Inc. now owns 1,538,758 shares of the company’s stock worth $69,613,000 after purchasing an additional 870,184 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Cantor Fitzgerald lifted their target price on Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Benchmark cut their price objective on shares of Maplebear from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Stifel Nicolaus reduced their target price on shares of Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Exane BNP Paribas raised shares of Maplebear to a “strong sell” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Maplebear in a report on Monday, December 29th. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $51.62.

Maplebear Stock Down 4.6%

CART opened at $36.08 on Wednesday. Maplebear Inc. has a twelve month low of $34.78 and a twelve month high of $53.50. The company’s 50-day moving average price is $42.44 and its two-hundred day moving average price is $42.55. The stock has a market cap of $9.47 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 0.97 and a beta of 1.00.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The business had revenue of $939.00 million during the quarter, compared to analyst estimates of $933.76 million. During the same period in the prior year, the company earned $0.42 earnings per share. Maplebear’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total transaction of $222,161.94. Following the sale, the general counsel owned 404,940 shares of the company’s stock, valued at $18,307,337.40. The trade was a 1.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 26.00% of the company’s stock.

Maplebear Profile

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.