Pacer Advisors Inc. Cuts Position in Maplebear Inc. (NASDAQ:CART)

Pacer Advisors Inc. lessened its stake in Maplebear Inc. (NASDAQ:CART) by 5.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,688,862 shares of the company’s stock after selling 206,585 shares during the period. Pacer Advisors Inc.’s holdings in Maplebear were worth $152,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CART. Geode Capital Management LLC boosted its holdings in shares of Maplebear by 151.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock valued at $111,361,000 after buying an additional 1,647,081 shares in the last quarter. Maverick Capital Ltd. lifted its position in Maplebear by 19.7% during the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock valued at $109,363,000 after acquiring an additional 441,156 shares during the last quarter. State Street Corp boosted its stake in Maplebear by 48.3% in the third quarter. State Street Corp now owns 2,552,617 shares of the company’s stock valued at $103,994,000 after acquiring an additional 831,795 shares in the last quarter. Southpoint Capital Advisors LP grew its holdings in Maplebear by 56.3% in the third quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock worth $101,850,000 after purchasing an additional 900,000 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Maplebear by 11.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,665,421 shares of the company’s stock worth $67,849,000 after purchasing an additional 166,058 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors.

Maplebear Price Performance

CART opened at $45.99 on Monday. The firm has a fifty day moving average price of $43.58 and a 200 day moving average price of $40.26. Maplebear Inc. has a 1 year low of $23.59 and a 1 year high of $50.01. The stock has a market cap of $11.81 billion, a P/E ratio of 30.87, a P/E/G ratio of 1.01 and a beta of 1.04.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. During the same quarter in the prior year, the firm posted ($20.86) earnings per share. The company’s revenue was up 11.5% compared to the same quarter last year. Equities analysts expect that Maplebear Inc. will post 1.42 EPS for the current year.

Insider Activity at Maplebear

In other news, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total value of $92,261.82. Following the sale, the chief accounting officer now owns 89,982 shares in the company, valued at $3,694,660.92. This trade represents a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $44.39, for a total transaction of $921,092.50. Following the sale, the chief executive officer now directly owns 1,803,278 shares of the company’s stock, valued at $80,047,510.42. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,558 shares of company stock worth $4,490,901 in the last 90 days. Corporate insiders own 36.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CART. Wells Fargo & Company assumed coverage on Maplebear in a research report on Friday, January 10th. They issued an “equal weight” rating and a $47.00 price objective for the company. Stifel Nicolaus raised their price target on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Loop Capital upped their price objective on shares of Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a report on Monday, December 9th. Needham & Company LLC upgraded shares of Maplebear from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Monday, January 13th. Finally, BMO Capital Markets boosted their target price on shares of Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. Thirteen 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 data from MarketBeat, Maplebear presently has an average rating of “Moderate Buy” and a consensus target price of $48.96.

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.