Maplebear (NASDAQ:CART) Now Covered by Wolfe Research

Wolfe Research began coverage on shares of Maplebear (NASDAQ:CART) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm set a “peer perform” rating on the stock.

A number of other brokerages have also weighed in on CART. Robert W. Baird raised their target price on Maplebear from $31.00 to $44.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Fox Advisors cut Maplebear from an “overweight” rating to an “equal weight” rating in a report on Monday, April 1st. Macquarie initiated coverage on Maplebear in a report on Monday, March 25th. They issued an “outperform” rating and a $42.00 price target on the stock. Benchmark reiterated a “hold” rating on shares of Maplebear in a report on Tuesday, May 7th. Finally, Loop Capital raised their price target on Maplebear from $46.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Maplebear Trading Down 3.3 %

Shares of CART stock opened at $35.29 on Tuesday. Maplebear has a 12 month low of $22.13 and a 12 month high of $42.95. The stock has a 50 day moving average of $33.13 and a 200-day moving average of $31.99.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.39. The firm had revenue of $820.00 million for the quarter, compared to the consensus estimate of $794.08 million. The business’s revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts expect that Maplebear will post 1.01 EPS for the current fiscal year.

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 6,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $31.82, for a total value of $190,920.00. Following the completion of the sale, the chief executive officer now directly owns 1,995,167 shares in the company, valued at approximately $63,486,213.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Fidji Simo sold 6,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $31.82, for a total value of $190,920.00. Following the completion of the sale, the chief executive officer now directly owns 1,995,167 shares in the company, valued at approximately $63,486,213.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Morgan Fong sold 18,687 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $34.86, for a total value of $651,428.82. Following the completion of the sale, the general counsel now owns 418,973 shares of the company’s stock, valued at $14,605,398.78. The disclosure for this sale can be found here. In the last three months, insiders sold 88,563 shares of company stock worth $3,021,928. 36.00% of the stock is owned by company insiders.

Institutional Trading of Maplebear

A number of institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its holdings in shares of Maplebear by 139.3% during the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after buying an additional 620 shares in the last quarter. Cantor Fitzgerald L. P. raised its holdings in shares of Maplebear by 389.5% during the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after buying an additional 2,489 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Maplebear during the 4th quarter worth $69,000. Amalgamated Bank acquired a new position in shares of Maplebear during the 4th quarter worth $94,000. Finally, International Assets Investment Management LLC acquired a new position in Maplebear in the 4th quarter worth about $110,000. 63.09% of the stock is currently owned by 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.