FBN Securities Begins Coverage on Maplebear (NASDAQ:CART)

Stock analysts at FBN Securities assumed coverage on shares of Maplebear (NASDAQ:CART) in a report issued on Friday. The firm set a “sector perform” rating and a $44.00 price target on the stock. FBN Securities’ price target would indicate a potential upside of 8.59% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $55.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Stifel Nicolaus raised their price objective on Maplebear from $56.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Morgan Stanley upped their target price on Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Maplebear in a research report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price target on the stock. Finally, Macquarie boosted their price objective on shares of Maplebear from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Fourteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.25.

Maplebear Trading Up 0.4 %

CART stock opened at $40.52 on Friday. The company’s 50 day moving average is $44.72 and its 200 day moving average is $43.39. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. Maplebear has a 1-year low of $29.84 and a 1-year high of $53.44.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The firm had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. As a group, sell-side analysts forecast that Maplebear will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the transaction, the chief executive officer now owns 1,654,559 shares in the company, valued at approximately $66,182,360. This represents a 0.12 % 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 2,314 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the sale, the chief accounting officer now owns 85,421 shares in the company, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,097 shares of company stock valued at $1,087,094 over the last three months. Corporate insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Maplebear by 5,191.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after purchasing an additional 1,461,501 shares during the last quarter. Cerity Partners LLC bought a new stake in Maplebear in the third quarter worth $1,442,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Maplebear by 95.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,258 shares of the company’s stock worth $1,233,000 after acquiring an additional 14,750 shares in the last quarter. Vinva Investment Management Ltd purchased a new stake in shares of Maplebear in the third quarter worth $212,000. Finally, Verition Fund Management LLC increased its holdings in shares of Maplebear by 54.0% during the third quarter. Verition Fund Management LLC now owns 630,809 shares of the company’s stock valued at $25,699,000 after acquiring an additional 221,091 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

About Maplebear

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.