Cerity Partners LLC Purchases Shares of 35,395 Maplebear Inc. (NASDAQ:CART)

Cerity Partners LLC purchased a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 35,395 shares of the company's stock, valued at approximately $1,442,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CART. Pacer Advisors Inc. purchased a new stake in Maplebear in the third quarter valued at approximately $158,701,000. Sculptor Capital LP purchased a new stake in shares of Maplebear during the second quarter worth $77,361,000. Federated Hermes Inc. increased its position in shares of Maplebear by 102.2% during the second quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company's stock worth $55,739,000 after acquiring an additional 876,439 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Maplebear by 5,191.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company's stock worth $60,689,000 after acquiring an additional 1,461,501 shares during the period. Finally, Industry Ventures L.L.C. increased its position in shares of Maplebear by 3.3% during the second quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company's stock worth $31,512,000 after acquiring an additional 31,175 shares during the period. Hedge funds and other institutional investors own 63.09% of the company's stock.

Insider Buying and Selling

In other Maplebear news, CAO Alan Ramsay sold 2,559 shares of the company's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $42.97, for a total value of $109,960.23. Following the completion of the sale, the chief accounting officer now directly owns 96,666 shares of the company's stock, valued at approximately $4,153,738.02. This represents a 2.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Morgan Fong sold 29,253 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the completion of the sale, the general counsel now directly owns 258,406 shares of the company's stock, valued at $12,411,240.18. The trade was a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,954 shares of company stock valued at $4,890,405 over the last 90 days. 36.00% of the stock is currently owned by company insiders.

Maplebear Price Performance

Shares of NASDAQ:CART traded up $1.89 during midday trading on Wednesday, reaching $45.59. The company had a trading volume of 5,736,407 shares, compared to its average volume of 3,991,702. Maplebear Inc. has a one year low of $22.13 and a one year high of $50.01. The stock's fifty day moving average price is $43.44 and its 200-day moving average price is $37.34. The stock has a market capitalization of $11.71 billion, a P/E ratio of 30.60, a PEG ratio of 1.13 and a beta of 0.94.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($20.86) earnings per share. As a group, sell-side analysts forecast that Maplebear Inc. will post 1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

CART has been the topic of a number of recent research reports. Stifel Nicolaus upped their price objective on Maplebear from $52.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Cantor Fitzgerald reiterated an "overweight" rating and set a $45.00 target price on shares of Maplebear in a research note on Monday, October 7th. Citigroup increased their price target on shares of Maplebear from $44.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Bank of America increased their price target on shares of Maplebear from $50.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. Finally, JMP Securities increased their target price on shares of Maplebear from $42.00 to $51.00 and gave the company a "market outperform" rating in a report on Wednesday, November 13th. Thirteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.82.

About Maplebear

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.