Maplebear (NASDAQ:CART) Receives Hold Rating from Benchmark

Benchmark reissued their hold rating on shares of Maplebear (NASDAQ:CART) in a research note issued to investors on Tuesday, Benzinga reports.

A number of other research analysts also recently commented on the stock. 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 report on Thursday, April 11th. Oppenheimer boosted their price target on Maplebear from $36.00 to $48.00 and gave the stock an outperform rating in a research report on Monday, April 29th. BMO Capital Markets assumed coverage on Maplebear in a research report on Tuesday, January 9th. They issued a market perform rating and a $26.00 price objective for the company. Macquarie initiated coverage on Maplebear in a research note on Monday, March 25th. They issued an outperform rating and a $42.00 price target on the stock. Finally, Loop Capital initiated coverage on Maplebear in a report on Friday, April 19th. They set a buy rating and a $46.00 price target for the company. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Maplebear currently has a consensus rating of Moderate Buy and a consensus target price of $39.42.

Maplebear Price Performance

Shares of NASDAQ CART opened at $37.52 on Tuesday. The stock has a 50 day moving average price of $35.93 and a 200 day moving average price of $29.00. Maplebear has a 52 week low of $22.13 and a 52 week high of $42.95.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.52. The company had revenue of $803.00 million for the quarter, compared to the consensus estimate of $804.62 million. The company’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that Maplebear will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of Maplebear stock in a transaction dated Tuesday, February 20th. The shares were bought at an average cost of $27.90 per share, for a total transaction of $28,923,455.70. Following the purchase, the insider now owns 1,036,683 shares in the company, valued at approximately $28,923,455.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Fidji Simo sold 82,461 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $38.07, for a total transaction of $3,139,290.27. Following the sale, the chief executive officer now owns 926,654 shares in the company, valued at approximately $35,277,717.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Us (Ttgp) Ltd. Sc bought 1,036,683 shares of the stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the acquisition, the insider now owns 1,036,683 shares in the company, valued at $28,923,455.70. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 2,157,745 shares of company stock worth $61,771,955 and have sold 1,055,899 shares worth $30,422,265. Corporate insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

Hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC acquired a new stake in Maplebear during the 3rd quarter worth approximately $30,000. Parallel Advisors LLC lifted its holdings in shares of Maplebear by 139.3% during 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 period. Cantor Fitzgerald L. P. lifted its holdings in shares of Maplebear by 389.5% during 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 period. Kapitalo Investimentos Ltda bought a new stake in shares of Maplebear in the fourth quarter worth $69,000. Finally, Amalgamated Bank acquired a new stake in Maplebear in the fourth quarter valued at $94,000. 63.09% of the stock is currently owned by institutional investors.

Maplebear Company Profile

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.