Treasurer of the State of North Carolina Sells 2,070 Shares of Maplebear Inc. (NASDAQ:CART)

Treasurer of the State of North Carolina trimmed its position in Maplebear Inc. (NASDAQ:CART) by 2.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 73,121 shares of the company’s stock after selling 2,070 shares during the period. Treasurer of the State of North Carolina’s holdings in Maplebear were worth $3,029,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Maplebear in the 3rd quarter worth $33,000. Allworth Financial LP grew its stake 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 purchasing an additional 420 shares during the period. Cullen Frost Bankers Inc. bought a new stake in Maplebear in the fourth quarter valued at about $62,000. Finally, PNC Financial Services Group Inc. lifted its stake in Maplebear by 243.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company’s stock valued at $141,000 after buying an additional 2,409 shares during the period. Institutional investors own 63.09% of the company’s stock.

Maplebear Trading Up 0.5 %

NASDAQ:CART opened at $42.08 on Thursday. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 1.19 and a beta of 1.20. The firm has a fifty day simple moving average of $42.26 and a two-hundred day simple moving average of $43.47.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. The firm had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Equities analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Oppenheimer decreased their price target on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Mizuho lowered their price target on Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Macquarie boosted their price objective on Maplebear from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Morgan Stanley raised their target price on shares of Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Finally, Seaport Res Ptn upgraded shares of Maplebear to a “strong-buy” rating in a report on Wednesday, February 12th. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.61.

Insider Activity at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the sale, the chief accounting officer now directly owns 85,421 shares of the company’s stock, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the sale, the chief executive officer now owns 1,662,692 shares of the company’s stock, valued at $72,011,190.52. This trade represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,230 shares of company stock valued at $1,425,427. 36.00% of the stock is owned by insiders.

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.