Maplebear's (CART) "Neutral" Rating Reiterated at Moffett Nathanson

Moffett Nathanson reissued their neutral rating on shares of Maplebear (NASDAQ:CART - Free Report) in a research note issued to investors on Thursday, Benzinga reports. Moffett Nathanson currently has a $37.00 target price on the stock, up from their prior target price of $36.00.

Several other equities research analysts have also weighed in on the company. Benchmark lowered Maplebear from a buy rating to a hold rating in a research note on Tuesday, January 23rd. Macquarie assumed coverage on Maplebear in a research note on Monday, March 25th. They issued an outperform rating and a $42.00 price target on the stock. Robert W. Baird upped their price objective on shares of Maplebear from $31.00 to $44.00 and gave the company an outperform rating in a research report on Monday, April 1st. Fox Advisors cut Maplebear from an overweight rating to an equal weight rating in a report on Monday, April 1st. Finally, BMO Capital Markets assumed coverage on Maplebear in a report on Tuesday, January 9th. They issued a market perform rating and a $26.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Maplebear has a consensus rating of Moderate Buy and a consensus price target of $37.72.

Maplebear Stock Up 0.3 %

CART traded up $0.11 during trading hours on Thursday, hitting $38.58. The company's stock had a trading volume of 2,866,060 shares, compared to its average volume of 4,056,316. Maplebear has a fifty-two week low of $22.13 and a fifty-two week high of $42.95. The company has a 50-day simple moving average of $33.04 and a 200 day simple moving average of $27.91.

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

Insider Activity at Maplebear

In related news, CAO Alan Ramsay sold 12,113 shares of the company's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $34.33, for a total transaction of $415,839.29. Following the sale, the chief accounting officer now directly owns 114,205 shares in the company, valued at approximately $3,920,657.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $38.06, for a total value of $789,745.00. Following the sale, the chief executive officer now owns 888,365 shares of the company's stock, valued at approximately $33,811,171.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Alan Ramsay sold 12,113 shares of the firm's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $34.33, for a total transaction of $415,839.29. Following the completion of the sale, the chief accounting officer now directly owns 114,205 shares in the company, valued at approximately $3,920,657.65. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 2,157,745 shares of company stock worth $61,771,955 and have sold 998,592 shares worth $28,401,288.

Institutional Investors Weigh In On Maplebear

Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Capital LLC lifted its position in shares of Maplebear by 4.3% in the 1st quarter. Renaissance Capital LLC now owns 14,692 shares of the company's stock worth $548,000 after purchasing an additional 607 shares during the period. Parallel Advisors LLC lifted its position in Maplebear by 139.3% during the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company's stock valued at $25,000 after acquiring an additional 620 shares during the period. Signaturefd LLC purchased a new position in Maplebear during the 3rd quarter valued at about $30,000. UBS Group AG purchased a new position in Maplebear during the 3rd quarter valued at about $56,000. Finally, Cantor Fitzgerald L. P. lifted its position 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 acquiring an additional 2,489 shares during the period. 63.09% of the stock is owned by hedge funds and other institutional investors.

About Maplebear

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.