Maplebear (NASDAQ:CART) Research Coverage Started at Loop Capital

Loop Capital initiated coverage on shares of Maplebear (NASDAQ:CART) in a report published on Friday, MarketBeat reports. The brokerage issued a buy rating and a $46.00 price target on the stock.

Several other equities analysts have also recently issued reports on the company. Robert W. Baird boosted their price target on Maplebear from $31.00 to $44.00 and gave the company an outperform rating in a research report on Monday, April 1st. Moffett Nathanson reissued a neutral rating and issued a $37.00 target price (up previously from $36.00) on shares of Maplebear in a report on Thursday, April 11th. Morgan Stanley started coverage on shares of Maplebear in a research note on Tuesday, January 30th. They set an equal weight rating and a $28.00 price target on the stock. Sanford C. Bernstein upgraded shares of Maplebear from a market perform rating to an outperform rating and upped their target price for the stock from $30.00 to $43.00 in a research report on Thursday, March 14th. Finally, Piper Sandler boosted their target price on Maplebear from $36.00 to $45.00 and gave the stock an overweight rating in a research report on Friday, March 15th. Ten equities 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 has a consensus rating of Moderate Buy and a consensus price target of $38.16.

Maplebear Trading Down 3.2 %

Shares of NASDAQ CART opened at $35.23 on Friday. The business’s fifty day simple moving average is $34.42 and its 200-day simple moving average is $28.24. Maplebear has a 12-month low of $22.13 and a 12-month high of $42.95.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.52. The firm had revenue of $803.00 million for the quarter, compared to analysts’ expectations of $804.62 million. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts forecast that Maplebear will post 0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Nick Giovanni sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $36.97, for a total transaction of $369,700.00. Following the completion of the sale, the chief financial officer now directly owns 576,977 shares of the company’s stock, valued at approximately $21,330,839.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Nick Giovanni sold 10,000 shares of Maplebear stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $36.97, for a total value of $369,700.00. Following the transaction, the chief financial officer now directly owns 576,977 shares of the company’s stock, valued at approximately $21,330,839.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Us (Ttgp) Ltd. Sc bought 1,036,683 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average price of $27.90 per share, with a total value of $28,923,455.70. Following the acquisition, the insider now directly owns 1,036,683 shares in the company, valued at approximately $28,923,455.70. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,157,745 shares of company stock valued at $61,771,955 and have sold 1,008,592 shares valued at $28,770,988. 4.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maplebear

Several large investors have recently made changes to their positions in CART. FMR LLC purchased a new stake in Maplebear during the 3rd quarter worth $56,424,000. Blackstone Inc. purchased a new stake in shares of Maplebear in the third quarter worth about $17,369,000. KPCB DGF II Associates LLC acquired a new stake in shares of Maplebear in the third quarter valued at about $119,544,000. Monashee Investment Management LLC purchased a new stake in shares of Maplebear during the 3rd quarter valued at about $6,069,000. Finally, Hudson Bay Capital Management LP acquired a new position in Maplebear during the 3rd quarter worth approximately $904,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

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.