Maplebear (NASDAQ:CART) Trading 3.8% Higher After Analyst Upgrade

Maplebear Inc. (NASDAQ:CART - Get Free Report) shares were up 3.8% on Monday after Barclays raised their price target on the stock from $58.00 to $61.00. Barclays currently has an overweight rating on the stock. Maplebear traded as high as $46.95 and last traded at $46.92. Approximately 2,056,577 shares were traded during trading, a decline of 50% from the average daily volume of 4,116,189 shares. The stock had previously closed at $45.22.

Several other research firms have also recently commented on CART. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $55.00 price objective on shares of Maplebear in a research report on Wednesday, February 26th. BMO Capital Markets raised their price target on shares of Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. Macquarie boosted their price objective on shares of Maplebear from $52.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Loop Capital dropped their target price on shares of Maplebear from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Finally, Benchmark reiterated a "hold" rating on shares of Maplebear in a research note on Wednesday, February 26th. Twelve research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $50.61.

Insider Buying and Selling at Maplebear

In other news, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total value of $223,449.93. Following the transaction, the general counsel now directly owns 484,292 shares of the company's stock, valued at $20,616,310.44. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Fidji Simo sold 2,033 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the transaction, the chief executive officer now directly owns 1,654,559 shares in the company, valued at approximately $66,182,360. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,165 shares of company stock valued at $1,541,785. Corporate insiders own 26.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CART. Wilmington Savings Fund Society FSB acquired a new stake in Maplebear during the third quarter worth about $33,000. Franklin Resources Inc. raised its stake in shares of Maplebear by 182.0% in the 3rd quarter. Franklin Resources Inc. now owns 272,928 shares of the company's stock worth $11,692,000 after buying an additional 176,137 shares in the last quarter. Nordea Investment Management AB acquired a new stake in Maplebear in the 4th quarter valued at about $2,078,000. Watts Gwilliam & Co. LLC grew its position in Maplebear by 39.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 7,300 shares of the company's stock worth $313,000 after buying an additional 2,047 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Maplebear during the fourth quarter worth $1,166,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Stock Up 0.1 %

The business's 50 day simple moving average is $40.37 and its 200 day simple moving average is $43.53. The company has a market capitalization of $11.99 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. During the same period in the prior year, the firm earned $0.43 earnings per share. The business's revenue was up 9.4% on a year-over-year basis. On average, analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

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.