Maplebear Inc. (NASDAQ:CART) Short Interest Update

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective 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. JMP Securities restated a "market outperform" rating and issued a $55.00 price target on shares of Maplebear in a research report on Friday, April 11th. Wells Fargo & Company lowered their price objective on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. Seaport Res Ptn raised shares of Maplebear to a "strong-buy" rating in a report on Wednesday, February 12th. Finally, Macquarie upped their target price on Maplebear from $52.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $50.48.

Maplebear Trading Up 0.6 %

NASDAQ:CART traded up $0.25 during mid-day trading on Friday, reaching $41.91. 2,619,129 shares of the stock were exchanged, compared to its average volume of 4,052,480. Maplebear has a 1-year low of $29.84 and a 1-year high of $53.44. The firm has a market capitalization of $11.00 billion, a PE ratio of 28.13, a PEG ratio of 1.19 and a beta of 1.20. The business has a fifty day moving average price of $41.13 and a 200 day moving average price of $43.53.

Maplebear (NASDAQ:CART - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping 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 net margin of 13.37% and a return on equity of 13.78%. On average, sell-side analysts forecast that Maplebear will post 1.43 earnings per share for the current year.

Insider Activity

In other news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total transaction of $898,682.50. Following the transaction, the chief executive officer now owns 1,662,692 shares of the company's stock, valued at approximately $72,011,190.52. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares of the company's stock, valued at approximately $20,616,310.44. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,165 shares of company stock worth $1,541,785. 26.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maplebear

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Proathlete Wealth Management LLC purchased a new stake in Maplebear during the first quarter valued at about $26,000. Jones Financial Companies Lllp boosted 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 purchasing an additional 222 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Maplebear during the 3rd quarter worth approximately $33,000. Allworth Financial LP raised its stake in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after purchasing an additional 420 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after purchasing an additional 717 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

About Maplebear

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.