Maplebear (NASDAQ:CART) Now Covered by Analysts at Loop Capital

Loop Capital assumed coverage on shares of Maplebear (NASDAQ:CART) in a research report sent to investors on Friday morning, MarketBeat reports. The brokerage issued a buy rating and a $46.00 target price on the stock.

CART has been the subject of several other reports. Moffett Nathanson reaffirmed a neutral rating and set a $37.00 price objective (up from $36.00) on shares of Maplebear in a research report on Thursday, April 11th. Morgan Stanley started coverage on Maplebear in a report on Tuesday, January 30th. They set an equal weight rating and a $28.00 target price on the stock. Fox Advisors lowered Maplebear from an overweight rating to an equal weight rating in a report on Monday, April 1st. Benchmark lowered Maplebear from a buy rating to a hold rating in a report on Tuesday, January 23rd. Finally, Wedbush dropped their target price on Maplebear from $30.00 to $26.00 and set a neutral rating on the stock in a report on Wednesday, December 27th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $38.16.

Maplebear Stock Down 3.2 %

CART stock opened at $35.23 on Friday. The business has a 50-day moving average of $34.42 and a 200-day moving average of $28.22. Maplebear has a fifty-two week low of $22.13 and a fifty-two week high of $42.95.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate 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% compared to the same quarter last year. On average, equities analysts predict that Maplebear will post 0.53 EPS for the current fiscal year.

Insider Transactions at Maplebear

In other news, Director Jeffrey D. Jordan sold 760,479 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $26.01, for a total transaction of $19,780,058.79. Following the transaction, the director now owns 20,783 shares in the company, valued at $540,565.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Us (Ttgp) Ltd. Sc bought 1,036,683 shares of the stock in a transaction dated Tuesday, February 20th. The shares were bought 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 in the company, valued at $28,923,455.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey D. Jordan sold 760,479 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $26.01, for a total value of $19,780,058.79. Following the transaction, the director now owns 20,783 shares in the company, valued at approximately $540,565.83. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 2,157,745 shares of company stock worth $61,771,955 and have sold 1,008,592 shares worth $28,770,988. 4.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Maplebear

A number of large investors have recently made changes to their positions in CART. SC US Ttgp LTD. acquired a new stake in Maplebear during the third quarter worth approximately $1,180,490,000. KPCB DGF II Associates LLC acquired a new stake in Maplebear during the third quarter worth approximately $119,544,000. Canaan Partners IX LLC acquired a new stake in Maplebear during the fourth quarter worth approximately $87,508,000. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST acquired a new stake in Maplebear during the third quarter worth approximately $105,469,000. Finally, Norges Bank acquired a new stake in Maplebear during the fourth quarter worth approximately $78,674,000. 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.