Maplebear (NASDAQ:CART) Price Target Raised to $45.00 at JPMorgan Chase & Co.

Maplebear (NASDAQ:CARTFree Report) had its price target upped by JPMorgan Chase & Co. from $35.00 to $45.00 in a report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on CART. Wedbush dropped their price target on Maplebear from $30.00 to $26.00 and set a neutral rating for the company in a research report on Wednesday, December 27th. Benchmark downgraded Maplebear from a buy rating to a hold rating in a research report on Tuesday, January 23rd. Wolfe Research lifted their price target on Maplebear from $35.00 to $39.00 and gave the company an outperform rating in a research report on Tuesday, March 5th. Piper Sandler lifted their price target on Maplebear from $36.00 to $45.00 and gave the company an overweight rating in a research report on Friday, March 15th. Finally, Sanford C. Bernstein upgraded Maplebear from a market perform rating to an outperform rating and lifted their price target for the company from $30.00 to $43.00 in a research report on Thursday, March 14th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $36.61.

Read Our Latest Stock Report on CART

Maplebear Trading Up 1.4 %

Shares of CART opened at $38.03 on Monday. Maplebear has a 12-month low of $22.13 and a 12-month high of $42.95. The stock has a fifty day moving average price of $29.54.

Maplebear (NASDAQ:CARTGet Free Report) last announced its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.52. The business had revenue of $803.00 million for the quarter, compared to analysts’ expectations of $804.62 million. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that Maplebear will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Maplebear

In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average price of $27.90 per share, with a total value of $28,923,455.70. Following the transaction, the insider now directly owns 1,036,683 shares of the company’s stock, valued at $28,923,455.70. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average price of $27.90 per share, with a total value of $28,923,455.70. Following the acquisition, the insider now directly owns 1,036,683 shares in the company, valued at approximately $28,923,455.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey D. Jordan sold 760,479 shares of Maplebear stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $26.01, for a total value of $19,780,058.79. Following the completion of the transaction, the director now owns 20,783 shares of the company’s stock, valued at approximately $540,565.83. The disclosure for this sale can be found here. In the last quarter, insiders acquired 2,157,745 shares of company stock valued at $61,771,955 and sold 977,842 shares valued at $27,611,543.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CART. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST acquired a new stake in Maplebear in the third quarter valued at $105,469,000. TD Asset Management Inc acquired a new stake in shares of Maplebear during the third quarter worth about $6,640,000. Levin Capital Strategies L.P. acquired a new stake in shares of Maplebear during the third quarter worth about $846,000. Industry Ventures L.L.C. acquired a new stake in shares of Maplebear during the third quarter worth about $7,796,000. Finally, EFG Asset Management North America Corp. acquired a new stake in shares of Maplebear during the third quarter worth about $270,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

About Maplebear

(Get Free Report)

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.

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