Morgan Stanley Trims Maplebear (NASDAQ:CART) Target Price to $41.00

Maplebear (NASDAQ:CART) had its target price decreased by Morgan Stanley from $45.00 to $41.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Benchmark reiterated a hold rating on shares of Maplebear in a research report on Wednesday, August 7th. Wedbush lifted their target price on shares of Maplebear from $35.00 to $38.00 and gave the stock a neutral rating in a report on Wednesday, August 7th. Cantor Fitzgerald reissued an overweight rating and issued a $45.00 target price on shares of Maplebear in a research report on Monday, September 23rd. Piper Sandler lifted their price objective on Maplebear from $47.00 to $50.00 and gave the stock an overweight rating in a report on Wednesday, August 7th. Finally, KeyCorp started coverage on Maplebear in a report on Thursday, July 11th. They set a sector weight rating for the company. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $43.33.

Maplebear Stock Up 1.1 %

NASDAQ CART opened at $39.90 on Tuesday. The firm’s 50-day simple moving average is $35.22 and its two-hundred day simple moving average is $34.91. Maplebear has a 52 week low of $22.13 and a 52 week high of $42.58.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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% compared to the same quarter last year. As a group, research analysts forecast that Maplebear will post 1.12 EPS for the current fiscal year.

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 9,506 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $332,900.12. Following the completion of the transaction, the general counsel now owns 372,335 shares of the company’s stock, valued at $13,039,171.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, General Counsel Morgan Fong sold 9,506 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $35.02, for a total transaction of $332,900.12. Following the sale, the general counsel now directly owns 372,335 shares of the company’s stock, valued at $13,039,171.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Alan Ramsay sold 2,486 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $41.39, for a total value of $102,895.54. Following the completion of the transaction, the chief accounting officer now directly owns 99,225 shares of the company’s stock, valued at $4,106,922.75. The disclosure for this sale can be found here. Insiders have sold a total of 67,655 shares of company stock worth $2,504,824 over the last quarter. Insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in shares of Maplebear by 139.3% during the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after buying an additional 620 shares in the last quarter. nVerses Capital LLC raised its position in Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after acquiring an additional 1,600 shares during the period. Cantor Fitzgerald L. P. lifted its holdings in Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after purchasing an additional 2,489 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Maplebear during the fourth quarter valued at $69,000. Finally, Quarry LP grew its position in shares of Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares during the period. Hedge funds and other institutional investors own 63.09% of the company’s stock.

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.