Certuity LLC Boosts Position in Maplebear Inc. (NASDAQ:CART)

Certuity LLC raised its position in Maplebear Inc. (NASDAQ:CART) by 67.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,435 shares of the company’s stock after acquiring an additional 22,798 shares during the quarter. Certuity LLC’s holdings in Maplebear were worth $2,338,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Maplebear in the third quarter worth approximately $33,000. Huntington National Bank purchased a new position in shares of Maplebear during the 3rd quarter worth $54,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Maplebear during the 3rd quarter valued at $74,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Maplebear in the 4th quarter worth $151,000. Finally, KBC Group NV raised its holdings in Maplebear by 56.5% in the 4th quarter. KBC Group NV now owns 3,808 shares of the company’s stock worth $158,000 after purchasing an additional 1,374 shares during the period. 63.09% of the stock is currently owned by institutional investors.

Maplebear Price Performance

CART stock opened at $49.69 on Wednesday. Maplebear Inc. has a 1-year low of $24.52 and a 1-year high of $50.48. The business has a 50-day moving average price of $44.75 and a 200 day moving average price of $41.29. The company has a market capitalization of $12.76 billion, a P/E ratio of 33.35, a PEG ratio of 1.09 and a beta of 1.07.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.22 by $0.20. The business had revenue of $852.00 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($20.86) EPS. On average, analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

CART has been the subject of a number of analyst reports. BTIG Research upgraded Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Tuesday, January 14th. Barclays raised their target price on shares of Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company initiated coverage on shares of Maplebear in a research report on Friday, January 10th. They issued an “equal weight” rating and a $47.00 price target for the company. Loop Capital raised their price objective on shares of Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Maplebear in a report on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 target price for the company. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.96.

Insiders Place Their Bets

In related news, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the transaction, the chief executive officer now owns 1,771,993 shares in the company, valued at $75,734,980.82. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Alan Ramsay sold 2,314 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the sale, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,555 shares of company stock worth $2,164,787 over the last 90 days. Company insiders own 36.00% of the company’s stock.

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.