Maplebear Inc. (NASDAQ:CART) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Maplebear Inc. (NASDAQ:CART - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-two research firms that are presently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $37.33.

CART has been the subject of a number of recent research reports. Macquarie assumed coverage on Maplebear in a research note on Monday, March 25th. They issued an "outperform" rating and a $42.00 target price for the company. Morgan Stanley began coverage on Maplebear in a research report on Tuesday, January 30th. They set an "equal weight" rating and a $28.00 price target on the stock. Piper Sandler lifted their target price on Maplebear from $36.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, March 15th. Benchmark downgraded Maplebear from a "buy" rating to a "hold" rating in a research note on Tuesday, January 23rd. Finally, Fox Advisors downgraded Maplebear from an "overweight" rating to an "equal weight" rating in a research note on Monday, April 1st.

Maplebear Trading Down 1.7 %

Maplebear stock traded down $0.68 during mid-day trading on Monday, hitting $38.44. The company had a trading volume of 1,947,938 shares, compared to its average volume of 4,146,635. The company's fifty day moving average is $32.23 and its 200-day moving average is $27.70. Maplebear has a 12-month low of $22.13 and a 12-month high of $42.95.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.52. The firm had revenue of $803.00 million during the quarter, compared to analyst estimates of $804.62 million. Maplebear's quarterly revenue was up 6.1% on a year-over-year basis. Analysts anticipate that Maplebear will post 0.53 earnings per share for the current year.

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 20,750 shares of the company's stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $38.06, for a total value of $789,745.00. Following the completion of the transaction, the chief executive officer now directly owns 888,365 shares in the company, valued at $33,811,171.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the business's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $38.06, for a total transaction of $789,745.00. Following the completion of the sale, the chief executive officer now owns 888,365 shares of the company's stock, valued at $33,811,171.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of the stock in a transaction on Tuesday, February 20th. The shares were purchased at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the transaction, the insider now owns 1,036,683 shares of the company's stock, valued at approximately $28,923,455.70. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 2,157,745 shares of company stock valued at $61,771,955 and sold 998,592 shares valued at $28,401,288.

Institutional Investors Weigh In On Maplebear

Several institutional investors and hedge funds have recently modified their holdings of CART. Parallel Advisors LLC boosted its holdings in Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company's stock valued at $25,000 after purchasing an additional 620 shares during the last quarter. Signaturefd LLC bought a new position in Maplebear during the 3rd quarter valued at $30,000. Cantor Fitzgerald L. P. boosted its stake in Maplebear by 389.5% during the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company's stock valued at $43,000 after purchasing an additional 2,489 shares in the last quarter. UBS Group AG bought a new position in Maplebear during the 3rd quarter valued at $56,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Maplebear during the 4th quarter worth $69,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.