Maplebear Inc. (NASDAQ:CART) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers lifted its stake in shares of Maplebear Inc. (NASDAQ:CART) by 333.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,305 shares of the company’s stock after buying an additional 27,161 shares during the period. Cetera Investment Advisers’ holdings in Maplebear were worth $1,408,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CART. Proathlete Wealth Management LLC purchased a new position in shares of Maplebear during the first quarter worth $26,000. NewEdge Advisors LLC raised its holdings in shares of Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after purchasing an additional 717 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Maplebear by 914.1% during the first quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock worth $40,000 after purchasing an additional 905 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Maplebear during the first quarter worth $41,000. Finally, CWM LLC raised its holdings in shares of Maplebear by 35.1% during the first quarter. CWM LLC now owns 1,058 shares of the company’s stock worth $42,000 after purchasing an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Price Performance

NASDAQ:CART opened at $51.21 on Monday. The firm has a market capitalization of $13.44 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 1.95 and a beta of 1.21. The company’s 50-day moving average is $46.70 and its two-hundred day moving average is $44.68. Maplebear Inc. has a 1-year low of $31.15 and a 1-year high of $53.50.

Maplebear (NASDAQ:CART) last posted its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. Maplebear’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. As a group, equities analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Levien Meredith A. Kopit sold 4,225 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $47.45, for a total value of $200,476.25. Following the transaction, the director directly owned 20,829 shares in the company, valued at approximately $988,336.05. This represents a 16.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 66,560 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $50.01, for a total transaction of $3,328,665.60. Following the completion of the transaction, the chief executive officer owned 1,965,445 shares in the company, valued at approximately $98,291,904.45. This represents a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,975,327 shares of company stock worth $237,736,848 over the last ninety days. 26.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CART. Wells Fargo & Company raised their target price on shares of Maplebear from $47.00 to $55.00 and gave the stock an “equal weight” rating in a report on Friday. Bank of America raised their target price on shares of Maplebear from $53.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday. Citigroup lifted their price objective on shares of Maplebear from $57.00 to $65.00 and gave the company a “buy” rating in a report on Friday. Sanford C. Bernstein lifted their price objective on shares of Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Finally, Loop Capital lifted their price objective on shares of Maplebear from $52.00 to $58.00 and gave the company a “buy” rating in a report on Monday, May 19th. Nine analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.13.

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.