Maplebear Inc. (NASDAQ:CART) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Maplebear Inc. (NASDAQ:CART) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $41.25.

Several research analysts recently commented on the company. Robert W. Baird lifted their price target on Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Moffett Nathanson reissued a “neutral” rating and issued a $37.00 price objective (up previously from $36.00) on shares of Maplebear in a research note on Thursday, April 11th. Fox Advisors downgraded shares of Maplebear from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 1st. Gordon Haskett raised shares of Maplebear from a “hold” rating to a “buy” rating and raised their price objective for the stock from $37.00 to $45.00 in a research note on Wednesday, June 5th. Finally, Wolfe Research raised their price objective on shares of Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th.

Maplebear Trading Down 4.7 %

CART opened at $31.51 on Friday. Maplebear has a 12 month low of $22.13 and a 12 month high of $42.95. The stock has a 50-day moving average of $33.89 and a 200 day moving average of $30.75.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.04 by $0.39. The company had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $794.08 million. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, analysts expect that Maplebear will post 1.02 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Alan Ramsay sold 12,178 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $34.90, for a total value of $425,012.20. Following the completion of the transaction, the chief accounting officer now owns 118,142 shares of the company’s stock, valued at $4,123,155.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Maplebear news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $38.06, for a total value of $789,745.00. Following the transaction, the chief executive officer now directly owns 888,365 shares of the company’s stock, valued at $33,811,171.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alan Ramsay sold 12,178 shares of Maplebear stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $34.90, for a total transaction of $425,012.20. Following the completion of the transaction, the chief accounting officer now directly owns 118,142 shares in the company, valued at $4,123,155.80. The disclosure for this sale can be found here. Insiders sold 98,335 shares of company stock valued at $3,477,223 over the last 90 days. Corporate insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Capital LLC grew its holdings in Maplebear by 4.3% in the first quarter. Renaissance Capital LLC now owns 14,692 shares of the company’s stock worth $548,000 after purchasing an additional 607 shares during the last quarter. Parallel Advisors LLC grew its holdings in Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after purchasing an additional 620 shares during the last quarter. Cantor Fitzgerald L. P. grew its holdings in Maplebear by 389.5% in the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in Maplebear in the fourth quarter worth $69,000. Finally, Industry Ventures L.L.C. grew its holdings in Maplebear by 0.4% in the first quarter. Industry Ventures L.L.C. now owns 949,283 shares of the company’s stock worth $35,399,000 after purchasing an additional 3,939 shares during 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, 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.