Maplebear (NASDAQ:CART) Now Covered by Mizuho

Mizuho assumed coverage on shares of Maplebear (NASDAQ:CART) in a research note published on Tuesday,Benzinga reports. The brokerage issued a neutral rating and a $45.00 price objective on the stock.

Other analysts also recently issued research reports about the company. Wells Fargo & Company lifted their price target on Maplebear from $55.00 to $57.00 and gave the company an “equal weight” rating in a research note on Friday, September 5th. Needham & Company LLC lifted their price target on Maplebear from $56.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Wedbush reissued an “underperform” rating and issued a $42.00 price target (down previously from $55.00) on shares of Maplebear in a research note on Thursday, August 21st. BTIG Research reissued a “neutral” rating and issued a $55.00 price target on shares of Maplebear in a research note on Tuesday. Finally, Robert W. Baird dropped their price target on Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Maplebear presently has a consensus rating of “Moderate Buy” and an average target price of $54.96.

Maplebear Trading Down 3.1%

Shares of Maplebear stock opened at $36.76 on Tuesday. The company has a market capitalization of $9.68 billion, a PE ratio of 21.25, a PEG ratio of 1.27 and a beta of 1.22. Maplebear has a 12 month low of $34.87 and a 12 month high of $53.50. The stock’s fifty day simple moving average is $45.37 and its 200 day simple moving average is $44.33.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $914.00 million for the quarter, compared to the consensus estimate of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. Analysts predict that Maplebear will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Fidji Simo sold 66,560 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $50.01, for a total value of $3,328,665.60. Following the completion of the transaction, the chief executive officer owned 1,965,445 shares in the company, valued at $98,291,904.45. This trade represents a 3.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Danker sold 10,037 shares of the firm’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $48.82, for a total value of $490,006.34. Following the completion of the transaction, the insider owned 470,190 shares of the company’s stock, valued at $22,954,675.80. The trade was a 2.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,986,367 shares of company stock worth $238,211,261 over the last three months. Company insiders own 26.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Texas Permanent School Fund Corp grew its holdings in Maplebear by 7.6% during the second quarter. Texas Permanent School Fund Corp now owns 106,669 shares of the company’s stock worth $4,826,000 after purchasing an additional 7,578 shares during the period. Osaic Holdings Inc. grew its holdings in Maplebear by 485.0% during the second quarter. Osaic Holdings Inc. now owns 96,871 shares of the company’s stock worth $4,382,000 after purchasing an additional 80,312 shares during the period. Thrivent Financial for Lutherans grew its holdings in Maplebear by 1.7% during the second quarter. Thrivent Financial for Lutherans now owns 44,641 shares of the company’s stock worth $2,020,000 after purchasing an additional 730 shares during the period. Stance Capital LLC bought a new position in Maplebear during the second quarter worth about $1,342,000. Finally, State of Wyoming grew its holdings in Maplebear by 5.5% during the second quarter. State of Wyoming now owns 10,059 shares of the company’s stock worth $455,000 after purchasing an additional 525 shares during the period. Institutional investors own 63.09% of the company’s stock.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.