Watts Gwilliam & Co. LLC Makes New Investment in Maplebear Inc. (NASDAQ:CART)

Watts Gwilliam & Co. LLC purchased a new position in shares of Maplebear Inc. (NASDAQ:CART) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,253 shares of the company’s stock, valued at approximately $231,000.

A number of other institutional investors also recently bought and sold shares of the business. FCF Advisors LLC purchased a new position in shares of Maplebear during the 3rd quarter valued at approximately $1,672,000. Atomi Financial Group Inc. increased its holdings in shares of Maplebear by 55.1% during the 3rd quarter. Atomi Financial Group Inc. now owns 30,719 shares of the company’s stock valued at $1,251,000 after purchasing an additional 10,909 shares in the last quarter. Diversified Trust Co increased its holdings in shares of Maplebear by 141.8% during the 3rd quarter. Diversified Trust Co now owns 24,563 shares of the company’s stock valued at $1,001,000 after purchasing an additional 14,404 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Maplebear during the 2nd quarter valued at approximately $1,575,000. Finally, Quarry LP increased its holdings in shares of Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Performance

Shares of CART opened at $43.60 on Friday. The stock has a market capitalization of $11.37 billion and a PE ratio of -2.20. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $45.01. The company’s 50-day simple moving average is $36.74 and its 200-day simple moving average is $35.25.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.07. The business had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $806.35 million. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, sell-side analysts predict that Maplebear Inc. will post 1.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CART shares. Benchmark reaffirmed a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Citigroup upped their price objective on shares of Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Macquarie upped their price objective on shares of Maplebear from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Wedbush upped their price objective on shares of Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, BMO Capital Markets upped their price objective on shares of Maplebear from $36.00 to $39.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.33.

Insider Activity at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 9,506 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $332,900.12. Following the sale, the general counsel now owns 372,335 shares of the company’s stock, valued at approximately $13,039,171.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Maplebear news, General Counsel Morgan Fong sold 9,506 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $332,900.12. Following the sale, the general counsel now owns 372,335 shares of the company’s stock, valued at approximately $13,039,171.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Alan Ramsay sold 2,626 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total transaction of $91,962.52. Following the sale, the chief accounting officer now directly owns 107,910 shares in the company, valued at approximately $3,779,008.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,655 shares of company stock valued at $2,504,824 over the last 90 days. 36.00% of the stock is owned by corporate insiders.

Maplebear Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.