Maplebear (NASDAQ:CART - Get Free Report) had its target price decreased by equities research analysts at Wells Fargo & Company from $47.00 to $44.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 16.33% from the company's current price.
Several other analysts have also recently commented on CART. Morgan Stanley raised their price target on shares of Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Benchmark reissued a "hold" rating on shares of Maplebear in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $56.00 price target on shares of Maplebear in a research note on Wednesday, February 26th. BTIG Research raised Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price objective for the company in a research report on Tuesday, January 14th. Finally, Loop Capital dropped their target price on Maplebear from $56.00 to $52.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Maplebear presently has an average rating of "Moderate Buy" and an average price target of $49.88.
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Maplebear Trading Up 1.1 %
NASDAQ:CART traded up $0.41 during trading hours on Thursday, hitting $37.82. 1,108,552 shares of the stock traded hands, compared to its average volume of 4,017,630. The firm has a 50 day moving average price of $43.81 and a 200 day moving average price of $43.58. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 1.19 and a beta of 1.20. Maplebear has a fifty-two week low of $29.84 and a fifty-two week high of $53.44.
Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share 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 the consensus estimate of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Research analysts predict that Maplebear will post 1.43 EPS for the current year.
Insider Transactions at Maplebear
In related news, 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 transaction, the chief accounting officer now owns 85,421 shares of the company's stock, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the sale, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,097 shares of company stock worth $1,087,094 over the last three months. 36.00% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of CART. Victory Capital Management Inc. grew its stake in shares of Maplebear by 11,501.2% in the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock valued at $187,495,000 after purchasing an additional 4,487,654 shares during the period. Boston Partners acquired a new stake in shares of Maplebear in the 4th quarter valued at $111,506,000. Altimeter Capital Management LP bought a new stake in shares of Maplebear in the 4th quarter worth about $105,108,000. Vanguard Group Inc. grew its holdings in shares of Maplebear by 16.8% in the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after purchasing an additional 2,300,288 shares during the last quarter. Finally, Norges Bank bought a new position in Maplebear during the 4th quarter valued at about $95,162,000. 63.09% of the stock is owned by institutional investors.
About Maplebear
(
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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.
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