Watts Gwilliam & Co. LLC Grows Holdings in Maplebear Inc. (NASDAQ:CART)

Watts Gwilliam & Co. LLC grew its stake in Maplebear Inc. (NASDAQ:CART) by 39.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,300 shares of the company’s stock after acquiring an additional 2,047 shares during the period. Watts Gwilliam & Co. LLC’s holdings in Maplebear were worth $313,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. CIBC Asset Management Inc increased its stake in Maplebear by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after buying an additional 286 shares during the period. Coldstream Capital Management Inc. increased its stake in Maplebear by 1.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after buying an additional 490 shares during the period. Oppenheimer & Co. Inc. increased its stake in Maplebear by 5.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock worth $493,000 after buying an additional 584 shares during the period. Pier Capital LLC increased its stake in Maplebear by 0.4% during the 3rd quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock worth $6,176,000 after buying an additional 616 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Maplebear during the 3rd quarter worth approximately $33,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $44.23 on Friday. The stock has a market cap of $11.36 billion, a P/E ratio of 29.68, a P/E/G ratio of 1.08 and a beta of 1.04. The firm has a fifty day moving average price of $43.59 and a 200 day moving average price of $39.28. Maplebear Inc. has a 1-year low of $22.60 and a 1-year high of $50.01.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. The company had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Maplebear’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) EPS. Sell-side analysts expect that Maplebear Inc. will post 1.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CART shares. Robert W. Baird increased their price objective on shares of Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Macquarie increased their price objective on shares of Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Raymond James started coverage on shares of Maplebear in a research report on Tuesday, September 24th. They issued a “market perform” rating on the stock. Stifel Nicolaus increased their price objective on shares of Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Loop Capital increased their price objective on shares of Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Maplebear currently has an average rating of “Hold” and a consensus target price of $47.13.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 2,559 shares of the 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 transaction, the chief accounting officer now owns 96,666 shares in the company, valued at $4,153,738.02. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Morgan Fong sold 29,253 shares of the 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 transaction, the general counsel now owns 258,406 shares of the company’s stock, valued at $12,411,240.18. This represents a 10.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,128 shares of company stock worth $4,980,404. 36.00% of the stock is owned by insiders.

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.