Maplebear Inc. $CART Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers lifted its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 5.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 37,325 shares of the company’s stock after buying an additional 2,020 shares during the period. Cetera Investment Advisers’ holdings in Maplebear were worth $1,689,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Securian Asset Management Inc. increased its holdings in Maplebear by 2.1% in the 2nd quarter. Securian Asset Management Inc. now owns 12,509 shares of the company’s stock valued at $566,000 after purchasing an additional 252 shares in the last quarter. CWM LLC boosted its position in shares of Maplebear by 35.1% in the first quarter. CWM LLC now owns 1,058 shares of the company’s stock worth $42,000 after buying an additional 275 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Maplebear by 0.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 75,161 shares of the company’s stock valued at $3,546,000 after buying an additional 315 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Maplebear by 1.3% during the 2nd quarter. Parallel Advisors LLC now owns 25,845 shares of the company’s stock valued at $1,169,000 after buying an additional 321 shares during the period. Finally, Wealthspire Advisors LLC lifted its position in Maplebear by 0.5% during the 1st quarter. Wealthspire Advisors LLC now owns 70,951 shares of the company’s stock worth $2,830,000 after acquiring an additional 334 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Price Performance

NASDAQ CART opened at $42.02 on Monday. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01. Maplebear Inc. has a 12 month low of $34.78 and a 12 month high of $53.50. The company’s fifty day moving average price is $39.32 and its two-hundred day moving average price is $43.73.

Maplebear (NASDAQ:CART) last issued its earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating 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 business had revenue of $939.00 million for the quarter, compared to analyst estimates of $933.76 million. During the same quarter in the prior year, the business posted $0.42 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Chris Rogers sold 9,259 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $42.37, for a total transaction of $392,303.83. Following the sale, the chief executive officer owned 739,880 shares in the company, valued at $31,348,715.60. This represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Morgan Fong sold 3,546 shares of Maplebear stock in a transaction that occurred 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 completion of the transaction, the general counsel owned 427,523 shares of the company’s stock, valued at approximately $16,609,268.55. The trade was a 0.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 27,556 shares of company stock worth $1,179,482 over the last quarter. 26.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CART. JMP Securities upped their price target on Maplebear from $55.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of Maplebear in a research note on Tuesday, November 25th. BTIG Research reaffirmed a “neutral” rating and set a $55.00 price target on shares of Maplebear in a research note on Tuesday, September 30th. Jefferies Financial Group cut their price objective on shares of Maplebear from $55.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, October 17th. Finally, BMO Capital Markets upgraded Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research note on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.40.

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.