Maplebear (NASDAQ:CART) Now Covered by Analysts at FBN Securities

FBN Securities initiated coverage on shares of Maplebear (NASDAQ:CART) in a research note released on Friday, Marketbeat Ratings reports. The brokerage issued a sector perform rating and a $44.00 price target on the stock.

Several other research firms also recently issued reports on CART. Seaport Res Ptn upgraded shares of Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Morgan Stanley increased their price target on Maplebear from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Benchmark restated a “hold” rating on shares of Maplebear in a research note on Wednesday, February 26th. Bank of America increased their target price on Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Finally, Stifel Nicolaus boosted their price target on Maplebear from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Fourteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and a consensus target price of $50.25.

Maplebear Stock Down 1.9 %

CART stock opened at $39.73 on Friday. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.19 and a beta of 1.34. The business has a fifty day simple moving average of $44.59 and a 200-day simple moving average of $43.42. Maplebear has a 52 week low of $29.84 and a 52 week high of $53.44.

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

Insider Activity

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the transaction, the chief executive officer now owns 1,654,559 shares of the company’s stock, valued at $66,182,360. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now directly owns 85,421 shares of the company’s stock, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,097 shares of company stock valued at $1,087,094. Company insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

A number of hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its holdings in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares during the period. Allworth Financial LP grew its position in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after purchasing an additional 420 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Maplebear by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 8,554 shares of the company’s stock valued at $354,000 after purchasing an additional 440 shares during the period. WCG Wealth Advisors LLC raised its holdings in shares of Maplebear by 3.3% during the fourth quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock valued at $590,000 after buying an additional 451 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in shares of Maplebear by 1.6% during the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after buying an additional 490 shares during the period. 63.09% of the stock is currently owned by institutional investors.

Maplebear Company Profile

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.