Seizert Capital Partners LLC Acquires 21,835 Shares of Maplebear Inc. $CART

Seizert Capital Partners LLC lifted its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 15.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 161,707 shares of the company’s stock after purchasing an additional 21,835 shares during the period. Seizert Capital Partners LLC’s holdings in Maplebear were worth $5,944,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Maplebear by 7.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,040,129 shares of the company’s stock worth $47,055,000 after purchasing an additional 72,643 shares during the period. Champlain Investment Partners LLC grew its stake in shares of Maplebear by 64.4% in the second quarter. Champlain Investment Partners LLC now owns 2,157,010 shares of the company’s stock worth $97,583,000 after purchasing an additional 845,070 shares during the last quarter. Sentry Investment Management LLC purchased a new position in Maplebear during the 2nd quarter valued at about $391,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Maplebear by 261.8% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 99,868 shares of the company’s stock valued at $4,518,000 after purchasing an additional 72,265 shares during the period. Finally, Norges Bank bought a new position in Maplebear during the 2nd quarter valued at approximately $97,351,000. 63.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CART shares. Fox Advisors cut Maplebear from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 18th. Argus began coverage on shares of Maplebear in a research report on Wednesday, January 7th. They issued a “buy” rating and a $52.00 target price for the company. BNP Paribas upgraded shares of Maplebear to a “strong sell” rating in a research report on Wednesday, January 14th. Needham & Company LLC decreased their price target on shares of Maplebear from $66.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Maplebear in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $51.73.

Maplebear Stock Performance

Shares of CART opened at $39.11 on Tuesday. The stock has a market cap of $10.27 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. Maplebear Inc. has a fifty-two week low of $34.78 and a fifty-two week high of $53.50. The firm’s 50-day simple moving average is $42.96 and its two-hundred day simple moving average is $43.33.

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

Insider Activity at Maplebear

In other news, General Counsel Morgan Fong sold 4,914 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $45.21, for a total transaction of $222,161.94. Following the completion of the transaction, the general counsel directly owned 404,940 shares in the company, valued at $18,307,337.40. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 26.00% of the company’s stock.

Maplebear Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.