Maplebear (NASDAQ:CART) PT Raised to $45.00

Maplebear (NASDAQ:CART) had its price target increased by Macquarie from $44.00 to $45.00 in a research report report published on Thursday morning, Benzinga reports. Macquarie currently has an outperform rating on the stock.

Other analysts also recently issued reports about the stock. Citigroup increased their price target on shares of Maplebear from $42.00 to $44.00 and gave the company a buy rating in a research report on Thursday, May 9th. Stifel Nicolaus increased their price target on shares of Maplebear from $44.00 to $45.00 and gave the company a buy rating in a research report on Thursday, May 9th. Needham & Company LLC reiterated a hold rating on shares of Maplebear in a research report on Wednesday, August 7th. Wolfe Research began coverage on shares of Maplebear in a research report on Tuesday, July 16th. They issued a peer perform rating on the stock. Finally, KeyCorp began coverage on shares of Maplebear in a report on Thursday, July 11th. They set a sector weight rating on the stock. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $42.70.

Maplebear Stock Down 0.7 %

Shares of NASDAQ CART opened at $31.90 on Thursday. Maplebear has a 1 year low of $22.13 and a 1 year high of $42.95. The firm’s 50-day moving average is $33.32 and its 200-day moving average is $33.18.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.07. The business had revenue of $823.00 million during the quarter, compared to the consensus estimate of $806.35 million. The firm’s revenue was up 14.9% on a year-over-year basis. As a group, analysts predict that Maplebear will post 1.02 earnings per share for the current fiscal year.

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 9,506 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total value of $332,900.12. Following the completion of the transaction, the general counsel now directly owns 372,335 shares of the company’s stock, valued at $13,039,171.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Morgan Fong sold 9,506 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total value of $332,900.12. Following the completion of the transaction, the general counsel now directly owns 372,335 shares of the company’s stock, valued at $13,039,171.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Fidji Simo sold 2,500 shares of Maplebear stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $33.81, for a total transaction of $84,525.00. Following the transaction, the chief executive officer now directly owns 1,992,667 shares of the company’s stock, valued at $67,372,071.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,388 shares of company stock valued at $1,795,513. 36.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Maplebear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its position 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 purchasing an additional 620 shares during the period. nVerses Capital LLC boosted its position in Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after purchasing an additional 1,600 shares during the period. Cantor Fitzgerald L. P. boosted its position 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 purchasing an additional 2,489 shares during the period. Kapitalo Investimentos Ltda bought a new position in Maplebear during the fourth quarter worth $69,000. Finally, Amalgamated Bank bought a new position in Maplebear during the fourth quarter worth $94,000. 63.09% of the stock is owned by institutional investors.

About Maplebear

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.