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

Seizert Capital Partners LLC lifted its position in shares of Maplebear Inc. (NASDAQ:CART) by 15.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 161,707 shares of the company’s stock after acquiring an additional 21,835 shares during the quarter. Seizert Capital Partners LLC owned approximately 0.06% of Maplebear worth $5,944,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC bought a new stake in shares of Maplebear in the second quarter valued at approximately $53,000. Fifth Third Bancorp grew its stake in Maplebear by 123.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,190 shares of the company’s stock valued at $54,000 after buying an additional 658 shares in the last quarter. CWM LLC raised its holdings in Maplebear by 42.2% during the 3rd quarter. CWM LLC now owns 1,634 shares of the company’s stock valued at $60,000 after acquiring an additional 485 shares during the period. SRH Advisors LLC purchased a new stake in shares of Maplebear during the second quarter worth $61,000. Finally, Huntington National Bank lifted its position in shares of Maplebear by 2,288.5% during the second quarter. Huntington National Bank now owns 1,457 shares of the company’s stock worth $66,000 after acquiring an additional 1,396 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler lowered Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research note on Friday, October 3rd. Citigroup reduced their target price on Maplebear from $65.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Argus assumed coverage on shares of Maplebear in a report on Wednesday, January 7th. They issued a “buy” rating and a $52.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Maplebear in a research note on Monday, December 29th. Finally, BTIG Research reaffirmed a “neutral” rating and set a $55.00 target price on shares of Maplebear in a report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.73.

Insider Transactions at Maplebear

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

Maplebear Trading Down 0.8%

CART stock opened at $39.11 on Tuesday. The company’s 50 day moving average is $42.96 and its 200 day moving average is $43.33. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. Maplebear Inc. has a 1-year low of $34.78 and a 1-year high of $53.50.

Maplebear (NASDAQ:CART) last announced 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 business 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%. Maplebear’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. As a group, sell-side analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

About Maplebear

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.