Maplebear Inc. (NASDAQ:CART) Given Average Recommendation of “Moderate Buy” by Analysts

Maplebear Inc. (NASDAQ:CART) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-six ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $51.2917.

Several equities research analysts have recently commented on the stock. Stifel Nicolaus reduced their target price on shares of Maplebear from $49.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Wall Street Zen upgraded shares of Maplebear from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a report on Monday, December 29th. Argus upgraded shares of Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Finally, Wells Fargo & Company upped their price objective on shares of Maplebear from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday.

Insider Activity at Maplebear

In related news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $38.74, for a total transaction of $363,768.60. Following the sale, the chief accounting officer directly owned 47,510 shares in the company, valued at $1,840,537.40. This represents a 16.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Morgan Fong sold 126,083 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the sale, the general counsel directly owned 386,643 shares of the company’s stock, valued at $14,340,588.87. This represents a 24.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 26.00% of the stock is owned by insiders.

Institutional Trading of Maplebear

A number of hedge funds and other institutional investors have recently made changes to their positions in CART. PenderFund Capital Management Ltd. acquired a new position in Maplebear during the 4th quarter worth about $27,000. Hantz Financial Services Inc. increased its position in Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after acquiring an additional 389 shares in the last quarter. Allworth Financial LP increased its position in Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of Maplebear in the third quarter worth about $43,000. Finally, IFP Advisors Inc raised its stake in shares of Maplebear by 761.3% in the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after acquiring an additional 845 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $38.77 on Friday. The business’s fifty day moving average price is $36.95 and its two-hundred day moving average price is $39.78. Maplebear has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 0.59 and a beta of 0.88.

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.