Maplebear (NASDAQ:CART) Upgraded to Hold at Mizuho

Key Points

• Maplebear (NASDAQ:CART) has been upgraded to a "hold" rating by Mizuho, amidst varying assessments from other research firms regarding its stock performance.
• Shares of Maplebear dropped 3.1% and the company's stock trades at a market cap of $9.68 billion, with a recent price opening at $36.76.
• Insider trading activity shows significant sales of company stock, including CEO Chris Rogers selling over 9,000 shares, indicating a 1.24% decrease in ownership.

Maplebear (NASDAQ:CART - Get Free Report) was upgraded by research analysts at Mizuho to a "hold" rating in a report issued on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on CART. JMP Securities increased their price target on shares of Maplebear from $55.00 to $60.00 and gave the company a "market outperform" rating in a report on Friday, August 8th. Citigroup raised their target price on shares of Maplebear from $57.00 to $65.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Wall Street Zen cut shares of Maplebear from a "buy" rating to a "hold" rating in a report on Monday. Barclays raised their target price on shares of Maplebear from $61.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, Stifel Nicolaus lowered their target price on shares of Maplebear from $64.00 to $56.00 and set a "buy" rating on the stock in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $54.96.

Maplebear Stock Down 3.1%

Maplebear stock opened at $36.76 on Monday. The stock has a market cap of $9.68 billion, a P/E ratio of 21.25, a P/E/G ratio of 1.27 and a beta of 1.22. Maplebear has a twelve month low of $34.87 and a twelve month high of $53.50. The company's 50-day moving average price is $45.37 and its two-hundred day moving average price is $44.33.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $914.00 million for the quarter, compared to analysts' expectations of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The business's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. Equities analysts anticipate that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Chris Rogers sold 9,259 shares of Maplebear stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $42.37, for a total value of $392,303.83. Following the transaction, the chief executive officer directly owned 739,880 shares of the company's stock, valued at $31,348,715.60. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Morgan Fong sold 4,680 shares of Maplebear stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $49.16, for a total transaction of $230,068.80. Following the completion of the transaction, the general counsel directly owned 452,000 shares in the company, valued at $22,220,320. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,986,367 shares of company stock valued at $238,211,261 over the last three months. 26.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CART. Securian Asset Management Inc. boosted its position in Maplebear by 2.1% in the second quarter. Securian Asset Management Inc. now owns 12,509 shares of the company's stock valued at $566,000 after buying an additional 252 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Maplebear by 9.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company's stock valued at $134,000 after buying an additional 261 shares in the last quarter. Rafferty Asset Management LLC boosted its position in Maplebear by 2.5% in the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company's stock valued at $498,000 after buying an additional 273 shares in the last quarter. CWM LLC boosted its position in Maplebear by 35.1% in the first quarter. CWM LLC now owns 1,058 shares of the company's stock valued at $42,000 after buying an additional 275 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Maplebear by 27.1% in the first quarter. Signaturefd LLC now owns 1,335 shares of the company's stock valued at $53,000 after buying an additional 285 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

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.

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