Maplebear (NASDAQ:CART) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Maplebear (NASDAQ:CART) in a research report report published on Thursday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $45.00 price target on the stock.

CART has been the topic of several other reports. Gordon Haskett raised Maplebear from a hold rating to a buy rating and lifted their price objective for the company from $37.00 to $45.00 in a research report on Wednesday, June 5th. Wolfe Research assumed coverage on Maplebear in a research note on Tuesday, July 16th. They issued a peer perform rating on the stock. Wedbush raised their price objective on Maplebear from $35.00 to $38.00 and gave the company a neutral rating in a research report on Wednesday, August 7th. Macquarie upped their target price on shares of Maplebear from $44.00 to $45.00 and gave the stock an outperform rating in a research report on Thursday, August 8th. Finally, KeyCorp began coverage on shares of Maplebear in a research note on Thursday, July 11th. They set a sector weight rating on the stock. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $42.81.

Maplebear Trading Down 1.8 %

Shares of CART stock opened at $34.01 on Thursday. Maplebear has a fifty-two week low of $22.13 and a fifty-two week high of $42.95. The business’s 50 day moving average price is $33.95 and its 200-day moving average price is $34.27.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating 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 business had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $806.35 million. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities research analysts expect that Maplebear will post 1.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Maplebear news, CEO Fidji Simo sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $33.81, for a total value of $84,525.00. Following the transaction, the chief executive officer now directly owns 1,992,667 shares of the company’s stock, valued at $67,372,071.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Maplebear news, CEO Fidji Simo sold 2,500 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $33.81, for a total value of $84,525.00. Following the transaction, the chief executive officer now directly owns 1,992,667 shares in the company, valued at $67,372,071.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Alan Ramsay sold 2,550 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $33.86, for a total transaction of $86,343.00. Following the sale, the chief accounting officer now directly owns 110,536 shares of the company’s stock, valued at approximately $3,742,748.96. The disclosure for this sale can be found here. Insiders sold 68,610 shares of company stock valued at $2,377,448 over the last 90 days. Company insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its holdings in Maplebear by 139.3% in 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. nVerses Capital LLC raised its position in shares of Maplebear by 1,600.0% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after purchasing an additional 1,600 shares during the period. Cantor Fitzgerald L. P. lifted 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 valued at $43,000 after buying an additional 2,489 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Maplebear in the 4th quarter worth $69,000. Finally, Quarry LP increased its stake in Maplebear by 269.5% in the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after buying an additional 2,865 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

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.