Maplebear (NASDAQ:CART) Coverage Initiated by Analysts at FBN Securities

FBN Securities began coverage on shares of Maplebear (NASDAQ:CART - Free Report) in a research report sent to investors on Friday, Marketbeat.com reports. The brokerage issued a sector perform rating and a $44.00 price target on the stock.

CART has been the topic of several other research reports. Stifel Nicolaus upped their price objective on Maplebear from $56.00 to $57.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Wedbush cut their price target on Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Macquarie lifted their price objective on Maplebear from $52.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. BMO Capital Markets upped their price objective on shares of Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. Finally, Barclays increased their target price on shares of Maplebear from $56.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Fourteen 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. Based on data from MarketBeat.com, Maplebear currently has an average rating of "Moderate Buy" and an average target price of $50.25.

Maplebear Stock Up 0.5 %

CART stock traded up $0.18 during midday trading on Friday, hitting $40.07. The company's stock had a trading volume of 823,007 shares, compared to its average volume of 4,003,967. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 1.19 and a beta of 1.34. The stock's 50-day moving average price is $44.46 and its 200 day moving average price is $43.56. Maplebear has a 1 year low of $29.84 and a 1 year high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16. The company had revenue of $883.00 million during 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, equities analysts forecast that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the sale, the chief accounting officer now owns 85,421 shares of the company's stock, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the sale, the chief executive officer now directly owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. This trade represents a 1.23 % 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 quarter. 36.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Maplebear

Large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its holdings in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after buying an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Maplebear in the 3rd quarter valued at about $33,000. Allworth Financial LP lifted its position in Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after buying an additional 420 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after purchasing an additional 717 shares during the period. Finally, Anderson Financial Strategies LLC purchased a new stake in shares of Maplebear in the fourth quarter worth approximately $46,000. 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.