Seizert Capital Partners LLC Acquires Shares of 139,872 Maplebear Inc. $CART

Seizert Capital Partners LLC bought a new position in Maplebear Inc. (NASDAQ:CART) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 139,872 shares of the company’s stock, valued at approximately $6,328,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Portside Wealth Group LLC acquired a new stake in shares of Maplebear in the second quarter valued at approximately $218,000. Thames Capital Management LLC boosted its stake in Maplebear by 18.9% during the second quarter. Thames Capital Management LLC now owns 192,225 shares of the company’s stock worth $8,696,000 after buying an additional 30,489 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Maplebear by 45.7% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 71,438 shares of the company’s stock valued at $3,232,000 after buying an additional 22,417 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Maplebear in the 2nd quarter valued at $3,001,000. Finally, Cetera Investment Advisers increased its stake in shares of Maplebear by 5.7% in the 2nd quarter. Cetera Investment Advisers now owns 37,325 shares of the company’s stock worth $1,689,000 after acquiring an additional 2,020 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Stock Performance

Maplebear stock opened at $41.23 on Wednesday. The company’s 50 day simple moving average is $39.96 and its 200-day simple moving average is $43.92. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 1.33 and a beta of 1.10. Maplebear Inc. has a 1 year low of $34.78 and a 1 year high of $53.50.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The firm had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $933.76 million. During the same quarter last year, the company posted $0.42 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analyst Ratings Changes

CART has been the topic of several recent research reports. Piper Sandler cut shares of Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research report on Friday, October 3rd. Morgan Stanley lifted their target price on shares of Maplebear from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Friday, August 15th. Bank of America boosted their target price on shares of Maplebear from $53.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Barclays increased their price target on shares of Maplebear from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Finally, Stifel Nicolaus reduced their price target on shares of Maplebear from $56.00 to $49.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.40.

Insider Transactions at Maplebear

In related news, General Counsel Morgan Fong sold 3,546 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $38.85, for a total value of $137,762.10. Following the sale, the general counsel owned 427,523 shares in the company, valued at approximately $16,609,268.55. The trade was a 0.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chris Rogers sold 9,259 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $42.37, for a total value of $392,303.83. Following the transaction, the chief executive officer directly owned 739,880 shares in the company, valued at approximately $31,348,715.60. The trade was a 1.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 27,556 shares of company stock worth $1,179,482 over the last ninety days. Company insiders own 26.00% 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.