Maplebear (NASDAQ:CART) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Maplebear (NASDAQ:CART) from a "buy" to a "hold"; however the consensus remains a Moderate Buy with an average price target of $51.29 and a mix of 1 Strong Buy, 15 Buy, 9 Hold and 2 Sell ratings.
• Insider selling is notable: General Counsel Morgan Fong sold 126,083 shares and the CAO sold 9,390 shares, with insiders offloading 144,863 shares (~$5.42M) in the last 90 days while still owning 24% of the company.
• Institutional interest is strong—institutions own 63.09% of the stock and several large funds (Viking Global, Marshall Wace, Norges Bank, Dimensional) reported sizable new or increased positions; Maplebear's market cap is about $9.99B and its 1‑year range is $32.73–$53.50.

Maplebear (NASDAQ:CART - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

A number of other research firms have also issued reports on CART. Raymond James Financial upgraded Maplebear from a "hold" rating to a "moderate buy" rating in a research note on Thursday, April 9th. Stifel Nicolaus lowered their target price on Maplebear from $49.00 to $46.00 and set a "buy" rating for the company in a research note on Tuesday, January 27th. Jefferies Financial Group upgraded Maplebear from a "hold" rating to a "buy" rating and increased their target price for the company from $38.00 to $45.00 in a research note on Monday, March 30th. Wells Fargo & Company increased their target price on Maplebear from $43.00 to $45.00 and gave the company an "equal weight" rating in a research note on Monday, March 30th. Finally, Cantor Fitzgerald increased their target price on Maplebear from $45.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Maplebear has an average rating of "Moderate Buy" and an average price target of $51.29.

Maplebear Stock Performance

CART stock opened at $42.19 on Friday. Maplebear has a 1 year low of $32.73 and a 1 year high of $53.50. The firm has a market cap of $9.99 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 0.65 and a beta of 0.96. The stock has a 50-day simple moving average of $38.99 and a 200-day simple moving average of $39.85.

Insider Buying and Selling

In other Maplebear news, General Counsel Morgan Fong sold 126,083 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the completion of the sale, the general counsel owned 386,643 shares in the company, valued at $14,340,588.87. This trade represents a 24.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total value of $377,947.50. Following the sale, the chief accounting officer owned 58,971 shares of the company's stock, valued at approximately $2,373,582.75. This trade represents a 13.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 144,863 shares of company stock valued at $5,418,135. 24.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Maplebear

A number of hedge funds have recently bought and sold shares of the business. Viking Global Investors LP bought a new position in Maplebear during the 2nd quarter worth approximately $169,782,000. Marshall Wace LLP bought a new position in Maplebear during the 4th quarter worth approximately $126,206,000. Holocene Advisors LP bought a new position in Maplebear during the 3rd quarter worth approximately $90,167,000. Norges Bank bought a new position in Maplebear during the 4th quarter worth approximately $97,221,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Maplebear by 114.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company's stock worth $170,594,000 after buying an additional 2,026,567 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company's stock.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers' existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.

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