Maplebear (NASDAQ:CART) Earns Buy Rating from Analysts at Loop Capital

Loop Capital began coverage on shares of Maplebear (NASDAQ:CART) in a research report released on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $46.00 target price on the stock.

A number of other analysts have also recently commented on the company. Fox Advisors cut Maplebear from an overweight rating to an equal weight rating in a research report on Monday, April 1st. Robert W. Baird boosted their price objective on Maplebear from $31.00 to $44.00 and gave the company an outperform rating in a report on Monday, April 1st. Barclays boosted their price objective on Maplebear from $40.00 to $41.00 and gave the company an overweight rating in a report on Wednesday, February 14th. Moffett Nathanson reissued a neutral rating and issued a $37.00 price objective (up previously from $36.00) on shares of Maplebear in a report on Thursday, April 11th. Finally, Wedbush decreased their price objective on Maplebear from $30.00 to $26.00 and set a neutral rating for the company in a report on Wednesday, December 27th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $38.16.

Maplebear Price Performance

Maplebear stock opened at $36.09 on Friday. The business has a fifty day moving average price of $34.60 and a 200-day moving average price of $28.31. Maplebear has a 1-year low of $22.13 and a 1-year high of $42.95.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.52. The firm had revenue of $803.00 million for the quarter, compared to analyst estimates of $804.62 million. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts anticipate that Maplebear will post 0.53 EPS for the current fiscal year.

Insider Activity at Maplebear

In other news, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of $27.90 per share, for a total transaction of $28,923,455.70. Following the completion of the purchase, the insider now directly owns 1,036,683 shares of the company’s stock, valued at $28,923,455.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Maplebear news, CEO Fidji Simo sold 82,461 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $38.07, for a total value of $3,139,290.27. Following the sale, the chief executive officer now directly owns 926,654 shares in the company, valued at $35,277,717.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $27.90 per share, for a total transaction of $28,923,455.70. Following the completion of the purchase, the insider now owns 1,036,683 shares of the company’s stock, valued at $28,923,455.70. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 2,157,745 shares of company stock worth $61,771,955 and have sold 1,008,592 shares worth $28,770,988.

Institutional Trading of Maplebear

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC acquired a new stake in shares of Maplebear during the third quarter worth about $30,000. Parallel Advisors LLC boosted its stake 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 acquiring an additional 620 shares in the last quarter. Cantor Fitzgerald L. P. boosted its stake 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 acquiring an additional 2,489 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Maplebear during the 4th quarter worth approximately $69,000. Finally, Amalgamated Bank acquired a new position in shares of Maplebear during the 4th quarter worth approximately $94,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

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.