Cerity Partners LLC Boosts Stock Position in Maplebear Inc. (NASDAQ:CART)

Cerity Partners LLC grew its position in Maplebear Inc. (NASDAQ:CART) by 139.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,704 shares of the company’s stock after buying an additional 49,309 shares during the period. Cerity Partners LLC’s holdings in Maplebear were worth $3,508,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Stifel Financial Corp boosted its stake in Maplebear by 10.3% in the third quarter. Stifel Financial Corp now owns 25,561 shares of the company’s stock valued at $1,041,000 after acquiring an additional 2,386 shares in the last quarter. State Street Corp boosted its position in shares of Maplebear by 48.3% in the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company’s stock worth $103,994,000 after purchasing an additional 831,795 shares in the last quarter. Geode Capital Management LLC grew its stake in Maplebear by 151.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after buying an additional 1,647,081 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Maplebear during the 3rd quarter valued at about $33,000. Finally, Franklin Resources Inc. raised its stake in Maplebear by 182.0% in the third quarter. Franklin Resources Inc. now owns 272,928 shares of the company’s stock valued at $11,692,000 after buying an additional 176,137 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insiders Place Their Bets

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the sale, the chief executive officer now directly owns 1,662,692 shares in the company, valued at $72,011,190.52. This represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,097 shares of company stock worth $1,087,094. Company insiders own 36.00% of the company’s stock.

Maplebear Stock Up 6.7 %

Shares of Maplebear stock opened at $41.17 on Monday. The firm has a market cap of $10.81 billion, a PE ratio of 27.63, a P/E/G ratio of 1.19 and a beta of 1.20. The business has a 50-day moving average price of $42.67 and a 200 day moving average price of $43.48. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $889.98 million. On average, sell-side analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CART. Barclays upped their price objective on shares of Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. 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. JMP Securities reissued a “market outperform” rating and set a $55.00 price objective on shares of Maplebear in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and issued a $55.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Twelve investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.61.

Maplebear Company 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.