Maplebear Inc. (NASDAQ:CART) Short Interest Update

Maplebear Inc. (NASDAQ:CART - Get Free Report) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 12,880,000 shares, a drop of 19.8% from the March 15th total of 16,060,000 shares. Currently, 7.0% of the shares of the company are sold short. Based on an average daily trading volume, of 4,530,000 shares, the short-interest ratio is currently 2.8 days.

Maplebear Price Performance

Shares of CART stock traded up $0.25 during trading on Friday, hitting $41.91. 2,619,129 shares of the stock traded hands, compared to its average volume of 4,060,172. Maplebear has a 52-week low of $29.84 and a 52-week high of $53.44. The firm has a market capitalization of $11.00 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20. The firm's fifty day moving average price is $41.13 and its 200-day moving average price is $43.53.

Maplebear (NASDAQ:CART - Get Free Report) last announced 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. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $883.00 million during the quarter, compared to analysts' expectations of $889.98 million. As a group, equities research analysts expect that Maplebear will post 1.43 earnings per share for the current year.

Insider Buying and Selling at Maplebear

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 completion of the transaction, the chief executive officer now owns 1,662,692 shares of the company's stock, valued at approximately $72,011,190.52. The trade was a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the sale, the general counsel now directly owns 484,292 shares in the company, valued at approximately $20,616,310.44. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,165 shares of company stock worth $1,541,785. Insiders own 26.00% of the company's stock.

Institutional Investors Weigh In On Maplebear

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Maplebear by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock valued at $661,409,000 after acquiring an additional 2,300,288 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Maplebear by 15.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company's stock valued at $196,524,000 after purchasing an additional 635,930 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Maplebear by 11,501.2% in the fourth 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. Jacobs Levy Equity Management Inc. grew its holdings in shares of Maplebear by 85.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock valued at $127,650,000 after purchasing an additional 1,416,426 shares in the last quarter. Finally, Boston Partners purchased a new stake in Maplebear during the 4th quarter worth approximately $111,506,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CART has been the topic of a number of recent analyst reports. Benchmark reiterated a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Loop Capital decreased 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. Bank of America upped their price objective on shares of Maplebear from $51.00 to $53.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Stifel Nicolaus reduced their price target on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Wedbush lowered their price objective on Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Twelve research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Maplebear presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.48.

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.