Retirement Systems of Alabama Has $9.93 Million Stock Holdings in Maplebear Inc. $CART

Retirement Systems of Alabama decreased its position in shares of Maplebear Inc. (NASDAQ:CART) by 47.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 220,831 shares of the company’s stock after selling 200,220 shares during the quarter. Retirement Systems of Alabama’s holdings in Maplebear were worth $9,933,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP grew its stake in shares of Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after acquiring an additional 244 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Maplebear by 9.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after purchasing an additional 261 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of Maplebear by 2.5% in the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after purchasing an additional 273 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Maplebear by 5.0% during the third quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock worth $236,000 after purchasing an additional 304 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in Maplebear by 78.6% during the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after purchasing an additional 389 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Price Performance

Shares of CART stock opened at $38.77 on Friday. The stock has a market cap of $9.33 billion, a P/E ratio of 24.38, a P/E/G ratio of 0.59 and a beta of 0.88. The company has a fifty day moving average price of $36.92 and a two-hundred day moving average price of $39.73. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50.

Insider Activity

In other news, General Counsel Morgan Fong sold 126,083 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the sale, the general counsel directly owned 386,643 shares of the company’s stock, valued at approximately $14,340,588.87. This represents a 24.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $38.74, for a total transaction of $363,768.60. Following the completion of the sale, the chief accounting officer owned 47,510 shares of the company’s stock, valued at $1,840,537.40. This trade represents a 16.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 26.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Maplebear from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Wells Fargo & Company raised their price objective on Maplebear from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, March 30th. Argus raised Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Finally, Fox Advisors lowered Maplebear from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.29.

About Maplebear

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.