Maplebear’s (CART) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Maplebear (NASDAQ:CART) in a research report report published on Tuesday morning, Benzinga reports.

Other analysts have also issued research reports about the stock. Oppenheimer lifted their price target on shares of Maplebear from $36.00 to $48.00 and gave the stock an outperform rating in a research note on Monday, April 29th. Barclays boosted their target price on shares of Maplebear from $40.00 to $41.00 and gave the stock an overweight rating in a research report on Wednesday, February 14th. Benchmark reaffirmed a hold rating on shares of Maplebear in a research report on Tuesday. Wolfe Research boosted their price objective on Maplebear from $35.00 to $39.00 and gave the company an outperform rating in a report on Tuesday, March 5th. Finally, Robert W. Baird increased their target price on Maplebear from $31.00 to $44.00 and gave the stock an outperform rating in a report on Monday, April 1st. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $39.42.

Maplebear Trading Up 2.7 %

Shares of CART stock opened at $37.52 on Tuesday. The company’s fifty day moving average price is $35.93 and its two-hundred day moving average price is $29.00. Maplebear has a 12 month low of $22.13 and a 12 month high of $42.95.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.52. The business had revenue of $803.00 million during the quarter, compared to analyst estimates of $804.62 million. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts anticipate that Maplebear will post 0.53 EPS for the current year.

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 3,236 shares of Maplebear stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $35.09, for a total transaction of $113,551.24. Following the sale, the chief executive officer now directly owns 2,125,301 shares in the company, valued at $74,576,812.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Fidji Simo sold 3,236 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $35.09, for a total value of $113,551.24. Following the completion of the transaction, the chief executive officer now directly owns 2,125,301 shares in the company, valued at $74,576,812.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Alan Ramsay sold 12,113 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $34.33, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders acquired 2,157,745 shares of company stock valued at $61,771,955 and sold 1,055,899 shares valued at $30,422,265. Company insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. FMR LLC bought a new position in shares of Maplebear during the 3rd quarter valued at about $56,424,000. Blackstone Inc. purchased a new position in shares of Maplebear during the third quarter valued at $17,369,000. KPCB DGF II Associates LLC acquired a new stake in Maplebear during the 3rd quarter worth about $119,544,000. Monashee Investment Management LLC purchased a new position in Maplebear during the 3rd quarter valued at about $6,069,000. Finally, Federated Hermes Inc. increased its holdings in shares of Maplebear by 190.2% in the 4th quarter. Federated Hermes Inc. now owns 464,355 shares of the company’s stock valued at $10,898,000 after purchasing an additional 304,355 shares during the period. Institutional investors own 63.09% of the company’s stock.

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.