Certuity LLC Raises Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Certuity LLC grew its position in Maplebear Inc. (NASDAQ:CART) by 67.8% during the fourth quarter, Holdings Channel reports. The firm owned 56,435 shares of the company’s stock after acquiring an additional 22,798 shares during the period. Certuity LLC’s holdings in Maplebear were worth $2,338,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of CART. Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear in the 3rd quarter valued at about $33,000. Huntington National Bank purchased a new position in Maplebear during the third quarter valued at approximately $54,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Maplebear in the third quarter valued at approximately $74,000. Newbridge Financial Services Group Inc. purchased a new stake in Maplebear in the 4th quarter worth approximately $151,000. Finally, KBC Group NV grew its stake in shares of Maplebear by 56.5% during 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. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CART shares. BTIG Research raised shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company initiated coverage on Maplebear in a report on Friday, January 10th. They issued an “equal weight” rating and a $47.00 price objective on the stock. Piper Sandler upped their target price on Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Stifel Nicolaus lifted their price target on shares of Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Jefferies Financial Group assumed coverage on shares of Maplebear in a report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 price target for the company. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and an average target price of $48.96.

Insiders Place Their Bets

In other Maplebear news, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total value of $92,261.82. Following the sale, the chief accounting officer now directly owns 89,982 shares of the company’s stock, valued at approximately $3,694,660.92. This represents a 2.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the sale, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,555 shares of company stock worth $2,164,787 in the last quarter. 36.00% of the stock is owned by company insiders.

Maplebear Stock Down 1.3 %

Maplebear stock opened at $49.69 on Wednesday. The company’s 50 day moving average is $44.75 and its two-hundred day moving average is $41.29. The firm has a market cap of $12.76 billion, a PE ratio of 33.35, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07. Maplebear Inc. has a 52-week low of $24.52 and a 52-week high of $50.48.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $852.00 million for the quarter, compared to analysts’ expectations of $844.03 million. During the same period last year, the firm earned ($20.86) earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities research analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

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.