Maplebear (NASDAQ:CART) Price Target Lowered to $52.00 at Loop Capital

Maplebear (NASDAQ:CART - Free Report) had its price objective trimmed by Loop Capital from $56.00 to $52.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also weighed in on CART. Benchmark reiterated a "hold" rating on shares of Maplebear in a research note on Wednesday, February 26th. Wells Fargo & Company initiated coverage on Maplebear in a research note on Friday, January 10th. They set an "equal weight" rating and a $47.00 price objective on the stock. Seaport Res Ptn upgraded Maplebear to a "strong-buy" rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $55.00 target price on shares of Maplebear in a report on Wednesday, February 26th. Finally, JMP Securities increased their price target on shares of Maplebear from $42.00 to $51.00 and gave the stock a "market outperform" rating in a report on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Maplebear has an average rating of "Moderate Buy" and an average target price of $50.21.

Maplebear Price Performance

Shares of CART traded down $1.59 during mid-day trading on Thursday, hitting $38.31. The stock had a trading volume of 5,144,339 shares, compared to its average volume of 3,881,551. The firm has a market cap of $10.14 billion, a P/E ratio of 25.71, a PEG ratio of 1.19 and a beta of 1.34. Maplebear has a 52 week low of $29.84 and a 52 week high of $53.44. The business has a fifty day moving average price of $45.99 and a 200-day moving average price of $43.08.

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

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the transaction, the chief executive officer now owns 1,771,993 shares of the company's stock, valued at $75,734,980.82. This represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value 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 trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,061 shares of company stock worth $1,987,318. 36.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CART. Jones Financial Companies Lllp boosted its stake in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Maplebear by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company's stock worth $331,000 after acquiring an additional 286 shares during the period. Allworth Financial LP raised its position in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after acquiring an additional 420 shares in the last quarter. WCG Wealth Advisors LLC lifted its stake in shares of Maplebear by 3.3% in the 4th quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company's stock valued at $590,000 after purchasing an additional 451 shares during the period. 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 valued at $1,294,000 after purchasing an additional 490 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

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.