Maplebear (NASDAQ:CART) Coverage Initiated by Analysts at Loop Capital

Stock analysts at Loop Capital assumed coverage on shares of Maplebear (NASDAQ:CART) in a note issued to investors on Friday, Marketbeat.com reports. The firm set a “buy” rating and a $46.00 price target on the stock. Loop Capital’s target price would suggest a potential upside of 30.57% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Benchmark cut Maplebear from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Morgan Stanley started coverage on Maplebear in a research note on Tuesday, January 30th. They set an “equal weight” rating and a $28.00 target price for the company. JPMorgan Chase & Co. raised their target price on Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Moffett Nathanson reissued a “neutral” rating and set a $37.00 target price (up previously from $36.00) on shares of Maplebear in a research note on Thursday, April 11th. Finally, Sanford C. Bernstein raised Maplebear from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $30.00 to $43.00 in a research note on Thursday, March 14th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and an average target price of $38.16.

Maplebear Trading Down 3.2 %

Shares of CART stock opened at $35.23 on Friday. The business’s 50 day moving average is $34.42 and its two-hundred day moving average is $28.23. Maplebear has a 12-month low of $22.13 and a 12-month high of $42.95.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, February 13th. The company reported $0.44 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 analyst estimates of $804.62 million. Maplebear’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Maplebear will post 0.53 earnings per share for the current year.

Insider Activity at Maplebear

In related news, CEO Fidji Simo sold 82,461 shares of Maplebear stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $38.07, for a total value of $3,139,290.27. Following the completion of the transaction, the chief executive officer now directly owns 926,654 shares in the company, valued at $35,277,717.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Maplebear news, CEO Fidji Simo sold 82,461 shares of Maplebear stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $38.07, for a total transaction of $3,139,290.27. Following the completion of the sale, the chief executive officer now directly owns 926,654 shares of the company’s stock, valued at approximately $35,277,717.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Nick Giovanni sold 10,000 shares of Maplebear stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $36.97, for a total value of $369,700.00. Following the sale, the chief financial officer now directly owns 576,977 shares of the company’s stock, valued at $21,330,839.69. The disclosure for this sale can be found here. Over the last three months, insiders purchased 2,157,745 shares of company stock worth $61,771,955 and sold 1,008,592 shares worth $28,770,988. 4.02% of the stock is currently owned by company insiders.

Institutional Trading of Maplebear

Institutional investors have recently bought and sold shares of the business. Signaturefd LLC acquired a new stake in shares of Maplebear during the third quarter worth about $30,000. Parallel Advisors LLC increased its position in shares of Maplebear by 139.3% during the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after purchasing an additional 620 shares in the last quarter. Cantor Fitzgerald L. P. increased its position in shares of Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares in the last quarter. UBS Group AG acquired a new stake in shares of Maplebear during the third quarter worth about $56,000. Finally, California State Teachers Retirement System acquired a new stake in shares of Maplebear during the third quarter worth about $74,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

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.