35,395 Shares in Maplebear Inc. (NASDAQ:CART) Purchased by Cerity Partners LLC

Cerity Partners LLC purchased a new position in shares of Maplebear Inc. (NASDAQ:CART) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,395 shares of the company’s stock, valued at approximately $1,442,000.

Several other large investors have also modified their holdings of CART. CIBC Asset Management Inc lifted its holdings in shares of Maplebear by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock valued at $331,000 after acquiring an additional 286 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Maplebear by 5.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock valued at $493,000 after purchasing an additional 584 shares in the last quarter. Creative Planning increased its stake in Maplebear by 9.5% during the second quarter. Creative Planning now owns 9,566 shares of the company’s stock valued at $307,000 after purchasing an additional 831 shares during the last quarter. Huntington National Bank acquired a new position in Maplebear during the 3rd quarter valued at approximately $54,000. Finally, nVerses Capital LLC grew its position in Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after purchasing an additional 1,600 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Maplebear news, CAO Alan Ramsay sold 2,486 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $41.39, for a total transaction of $102,895.54. Following the sale, the chief accounting officer now owns 99,225 shares of the company’s stock, valued at approximately $4,106,922.75. This represents a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Morgan Fong sold 8,345 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $333,800.00. Following the completion of the sale, the general counsel now owns 330,886 shares of the company’s stock, valued at $13,235,440. The trade was a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,954 shares of company stock valued at $4,890,405. Company insiders own 36.00% of the company’s stock.

Maplebear Stock Up 0.4 %

Shares of CART opened at $43.70 on Wednesday. The company has a 50 day moving average of $43.33 and a 200-day moving average of $37.28. The stock has a market capitalization of $11.23 billion, a P/E ratio of 29.33, a P/E/G ratio of 1.13 and a beta of 0.94. Maplebear Inc. has a twelve month low of $22.13 and a twelve month high of $50.01.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. The company had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted ($20.86) EPS. On average, sell-side analysts anticipate that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Raymond James assumed coverage on shares of Maplebear in a research note on Tuesday, September 24th. They issued a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Maplebear in a research note on Tuesday. They set a “hold” rating and a $37.00 price target on the stock. Wedbush increased their price target on Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Citigroup upped their price objective on Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Thirteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.82.

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.