Maplebear (NASDAQ:CART) Now Covered by FBN Securities

Equities researchers at FBN Securities initiated coverage on shares of Maplebear (NASDAQ:CART) in a research report issued to clients and investors on Friday. The brokerage set a “sector perform” rating and a $44.00 price target on the stock. FBN Securities’ price target would suggest a potential upside of 8.59% from the company’s previous close.

Several other equities analysts have also recently issued reports on CART. Macquarie upped their target price on shares of Maplebear from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Oppenheimer lowered their price objective on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Seaport Res Ptn raised shares of Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Wedbush decreased their target price on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, BMO Capital Markets raised their price target on Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Fourteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and an average price target of $50.25.

Maplebear Trading Up 0.4 %

CART stock opened at $40.52 on Friday. The stock’s 50 day simple moving average is $44.72 and its 200 day simple moving average is $43.39. Maplebear has a 12-month low of $29.84 and a 12-month high of $53.44. The stock has a market capitalization of $10.72 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $889.98 million. On average, research analysts predict that Maplebear will post 1.43 earnings per share for the current year.

Insider Activity

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the sale, the chief executive officer now directly owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. The trade was a 1.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction dated 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 directly owns 85,421 shares of the company’s stock, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,097 shares of company stock worth $1,087,094 over the last ninety days. Corporate insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares in the last quarter. CIBC Asset Management Inc increased its position in Maplebear by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 8,554 shares of the company’s stock worth $354,000 after purchasing an additional 440 shares during the last quarter. WCG Wealth Advisors LLC raised its stake in Maplebear by 3.3% during the fourth 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 in the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in 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 during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Company Profile

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.