Pacer Advisors Inc. Sells 206,585 Shares of Maplebear Inc. (NASDAQ:CART)

Pacer Advisors Inc. decreased its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,688,862 shares of the company’s stock after selling 206,585 shares during the period. Pacer Advisors Inc. owned about 1.44% of Maplebear worth $152,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CART. Portman Ltd bought a new stake in Maplebear during the third quarter valued at about $3,196,000. State Street Corp lifted its position in shares of Maplebear by 48.3% during the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company’s stock valued at $103,994,000 after buying an additional 831,795 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Maplebear during the 3rd quarter valued at approximately $1,442,000. Charles Schwab Investment Management Inc. increased its holdings in Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock worth $60,689,000 after acquiring an additional 1,461,501 shares in the last quarter. Finally, Zacks Investment Management purchased a new stake in Maplebear in the 3rd quarter worth approximately $4,853,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Stock Performance

NASDAQ:CART opened at $45.99 on Monday. The stock’s fifty day moving average is $43.58 and its 200 day moving average is $40.26. The firm has a market capitalization of $11.81 billion, a PE ratio of 30.87, a PEG ratio of 1.01 and a beta of 1.04. Maplebear Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $50.01.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate 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 for 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 business’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities analysts forecast that Maplebear Inc. will post 1.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CART shares. Jefferies Financial Group began coverage on shares of Maplebear in a research report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 price target for the company. BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Tuesday, January 14th. Morgan Stanley increased their price target on Maplebear from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. JMP Securities boosted their price objective on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. upped their price objective on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.96.

Insiders Place Their Bets

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

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.