Maplebear (NASDAQ:CART) Upgraded at Mizuho

Mizuho upgraded shares of Maplebear (NASDAQ:CART) to a hold rating in a research note released on Monday,Zacks.com reports.

Several other brokerages have also commented on CART. Bank of America raised their price target on Maplebear from $53.00 to $58.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. Wells Fargo & Company raised their price objective on Maplebear from $55.00 to $57.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. Wall Street Zen downgraded Maplebear from a “buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley raised their price objective on Maplebear from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Friday, August 15th. Finally, Sanford C. Bernstein raised their price objective on Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.54.

Maplebear Stock Up 1.9%

CART stock opened at $37.45 on Monday. The business’s fifty day simple moving average is $45.12 and its two-hundred day simple moving average is $44.29. Maplebear has a twelve month low of $34.87 and a twelve month high of $53.50. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.23 and a beta of 1.11.

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

Insider Activity at Maplebear

In related news, insider Daniel Danker sold 10,037 shares of Maplebear stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $48.82, for a total transaction of $490,006.34. Following the completion of the transaction, the insider directly owned 470,190 shares in the company, valued at approximately $22,954,675.80. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Morgan Fong sold 4,680 shares of Maplebear stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $49.16, for a total value of $230,068.80. Following the transaction, the general counsel owned 452,000 shares of the company’s stock, valued at approximately $22,220,320. This represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,986,367 shares of company stock valued at $238,211,261 in the last 90 days. 26.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Maplebear

A number of institutional investors have recently made changes to their positions in CART. Viking Global Investors LP acquired a new stake in shares of Maplebear in the second quarter worth approximately $169,782,000. William Blair Investment Management LLC acquired a new stake in shares of Maplebear in the second quarter worth approximately $151,364,000. Victory Capital Management Inc. boosted its stake in shares of Maplebear by 62.8% in the first quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company’s stock worth $293,919,000 after acquiring an additional 2,841,559 shares during the last quarter. Norges Bank acquired a new stake in shares of Maplebear in the second quarter worth approximately $97,351,000. Finally, Boston Partners boosted its stake in shares of Maplebear by 93.3% in the second quarter. Boston Partners now owns 3,961,838 shares of the company’s stock worth $179,261,000 after acquiring an additional 1,911,771 shares during the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

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.