Maplebear (NASDAQ:CART) Research Coverage Started at Macquarie

Macquarie assumed coverage on shares of Maplebear (NASDAQ:CART) in a research report report published on Monday, Marketbeat reports. The brokerage issued an outperform rating and a $42.00 price objective on the stock.

Several other brokerages also recently issued reports on CART. Wolfe Research lifted their price objective on Maplebear from $35.00 to $39.00 and gave the company an outperform rating in a research report on Tuesday, March 5th. Wedbush cut their price objective on Maplebear from $30.00 to $26.00 and set a neutral rating for the company in a research report on Wednesday, December 27th. Piper Sandler lifted their price objective on Maplebear from $36.00 to $45.00 and gave the company an overweight rating in a research report on Friday, March 15th. BMO Capital Markets began coverage on Maplebear in a research report on Tuesday, January 9th. They set a market perform rating and a $26.00 target price for the company. Finally, Sanford C. Bernstein upgraded Maplebear from a market perform rating to an outperform rating and boosted their target price for the stock from $30.00 to $43.00 in a research report on Thursday, March 14th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $36.61.

Maplebear Stock Up 1.5 %

Shares of CART opened at $37.09 on Monday. Maplebear has a 1 year low of $22.13 and a 1 year high of $42.95. The stock has a 50 day moving average of $30.09.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.52. The company had revenue of $803.00 million during the quarter, compared to analyst estimates of $804.62 million. Maplebear’s revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that Maplebear will post 0.53 earnings per share for the current year.

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Fidji Simo sold 82,461 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $38.07, for a total value of $3,139,290.27. Following the completion of the transaction, the chief executive officer now directly owns 926,654 shares of the company’s stock, valued at $35,277,717.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Fidji Simo sold 82,461 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $38.07, for a total value of $3,139,290.27. Following the sale, the chief executive officer now directly owns 926,654 shares in the company, valued at $35,277,717.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Morgan Fong sold 18,689 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $37.62, for a total value of $703,080.18. Following the completion of the sale, the general counsel now owns 264,379 shares in the company, valued at $9,945,937.98. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 2,157,745 shares of company stock valued at $61,771,955 and sold 977,842 shares valued at $27,611,543.

Institutional Trading of Maplebear

A number of institutional investors have recently modified their holdings of CART. Parallel Advisors LLC raised its holdings in Maplebear by 139.3% during the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after acquiring an additional 620 shares in the last quarter. Signaturefd LLC bought a new stake in Maplebear during the third quarter worth about $30,000. Cantor Fitzgerald L. P. raised its holdings in Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after acquiring an additional 2,489 shares in the last quarter. UBS Group AG bought a new stake in Maplebear during the third quarter worth about $56,000. Finally, California State Teachers Retirement System bought a new stake in Maplebear during the third quarter worth about $74,000. 63.09% of the stock is currently owned by institutional investors.

Maplebear Company 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.