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

Maplebear Inc. (NASDAQ:CART) has earned a consensus recommendation of “Moderate Buy” from the twenty-five analysts that are covering the company, Marketbeat reports. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $42.81.

CART has been the subject of several research analyst reports. KeyCorp assumed coverage on shares of Maplebear in a research report on Thursday, July 11th. They set a “sector weight” rating for the company. Needham & Company LLC reissued a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Citigroup raised their price objective on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Wolfe Research started coverage on Maplebear in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Benchmark restated a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th.

Insider Activity at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,550 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.86, for a total transaction of $86,343.00. Following the completion of the transaction, the chief accounting officer now owns 110,536 shares in the company, valued at approximately $3,742,748.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Fidji Simo sold 8,500 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $33.04, for a total transaction of $280,840.00. Following the sale, the chief executive officer now owns 1,984,167 shares in the company, valued at approximately $65,556,877.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,550 shares of Maplebear stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $33.86, for a total value of $86,343.00. Following the completion of the sale, the chief accounting officer now owns 110,536 shares of the company’s stock, valued at $3,742,748.96. The disclosure for this sale can be found here. Insiders have sold 66,110 shares of company stock worth $2,292,923 over the last ninety days. Insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

Several large investors have recently modified their holdings of CART. Norges Bank acquired a new position in shares of Maplebear during the 4th quarter valued at $78,674,000. Sculptor Capital LP acquired a new position in shares of Maplebear during the second quarter valued at about $77,361,000. Federated Hermes Inc. boosted its position in shares of Maplebear by 102.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock worth $55,739,000 after purchasing an additional 876,439 shares in the last quarter. Industry Ventures L.L.C. boosted its position in shares of Maplebear by 3.3% during the 2nd quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock worth $31,512,000 after purchasing an additional 31,175 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Maplebear in the 1st quarter valued at about $31,109,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $35.32 on Thursday. The stock’s fifty day moving average is $34.08 and its 200 day moving average is $34.39. Maplebear has a 52 week low of $22.13 and a 52 week high of $42.95.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. The firm had revenue of $823.00 million for the quarter, compared to the consensus estimate of $806.35 million. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The firm’s revenue was up 14.9% compared to the same quarter last year. On average, analysts predict that Maplebear will post 1.12 earnings per share for the current fiscal year.

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.