Maplebear Inc. (NASDAQ:CART) Given Consensus Rating of “Moderate Buy” by Brokerages

Maplebear Inc. (NASDAQ:CART) has been assigned a consensus rating of “Moderate Buy” from the twenty-five ratings firms that are currently covering the company, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $43.10.

A number of research analysts have recently commented on CART shares. Benchmark reissued a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. Bank of America boosted their target price on shares of Maplebear from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. KeyCorp began coverage on shares of Maplebear in a research report on Thursday, July 11th. They set a “sector weight” rating on the stock. Finally, Macquarie upped their price target on shares of Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th.

Maplebear Stock Performance

Maplebear stock opened at $43.78 on Friday. Maplebear has a 1 year low of $22.13 and a 1 year high of $45.13. The firm has a 50 day moving average price of $38.51 and a 200 day moving average price of $35.55. The company has a market cap of $11.59 billion and a price-to-earnings ratio of -2.21.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.07. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The company had revenue of $823.00 million during the quarter, compared to the consensus estimate of $806.35 million. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. Sell-side analysts predict that Maplebear will post 1.14 EPS for the current year.

Insider Buying and Selling

In related news, CEO Fidji Simo sold 33,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the transaction, the chief executive officer now owns 1,844,778 shares of the company’s stock, valued at approximately $65,065,320.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Maplebear news, CEO Fidji Simo sold 33,000 shares of Maplebear stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the sale, the chief executive officer now owns 1,844,778 shares in the company, valued at $65,065,320.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Morgan Fong sold 11,325 shares of Maplebear stock in a transaction on Monday, October 21st. The stock was sold at an average price of $42.97, for a total transaction of $486,635.25. Following the sale, the general counsel now owns 287,659 shares in the company, valued at $12,360,707.23. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,707 shares of company stock valued at $2,652,050. 36.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maplebear

Several institutional investors and hedge funds have recently made changes to their positions in CART. Hodges Capital Management Inc. acquired a new stake in shares of Maplebear in the 1st quarter valued at $6,211,000. Ironwood Financial llc acquired a new stake in shares of Maplebear in the 1st quarter valued at $337,000. Udine Wealth Management Inc. acquired a new stake in shares of Maplebear in the 1st quarter valued at $2,109,000. Sivia Capital Partners LLC acquired a new stake in shares of Maplebear in the 1st quarter valued at $369,000. Finally, Capstone Investment Advisors LLC boosted its stake in shares of Maplebear by 37.7% in the 1st quarter. Capstone Investment Advisors LLC now owns 172,134 shares of the company’s stock valued at $6,419,000 after purchasing an additional 47,134 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

About Maplebear

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.