Maplebear (NASDAQ:CART) Stock Rating Reaffirmed by Needham & Company LLC

Maplebear (NASDAQ:CART)‘s stock had its “hold” rating restated by analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports.

A number of other equities research analysts have also weighed in on CART. Moffett Nathanson reiterated a “neutral” rating and set a $37.00 target price (up from $36.00) on shares of Maplebear in a research note on Thursday, April 11th. Macquarie began coverage on Maplebear in a research note on Monday, March 25th. They issued an “outperform” rating and a $42.00 price objective for the company. Robert W. Baird upped their price objective on Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Morgan Stanley began coverage on Maplebear in a research note on Tuesday, January 30th. They issued an “equal weight” rating and a $28.00 price objective for the company. Finally, Loop Capital began coverage on Maplebear in a research note on Friday, April 19th. They issued a “buy” rating and a $46.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.16.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $34.28 on Tuesday. Maplebear has a twelve month low of $22.13 and a twelve month high of $42.95. The company has a 50 day moving average of $34.85 and a 200 day moving average of $28.41.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.52. The company had revenue of $803.00 million for the quarter, compared to analysts’ expectations of $804.62 million. The company’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts forecast that Maplebear will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In related news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $27.90 per share, with a total value of $28,923,455.70. Following the acquisition, 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 SEC, which is accessible through this link. In related news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $27.90 per share, with a total value of $28,923,455.70. Following the acquisition, 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 SEC, which is accessible through this link. Also, Director Jeffrey D. Jordan sold 760,479 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $26.01, for a total transaction of $19,780,058.79. Following the transaction, the director now directly owns 20,783 shares of the company’s stock, valued at approximately $540,565.83. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 2,157,745 shares of company stock valued at $61,771,955 and sold 1,027,279 shares valued at $29,422,416.

Institutional Trading of Maplebear

Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC raised 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. Signaturefd LLC purchased a new stake in shares of Maplebear during the 3rd quarter valued at about $30,000. Cantor Fitzgerald L. P. raised its position 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 purchased a new stake in shares of Maplebear during the 4th quarter valued at about $69,000. Finally, Amalgamated Bank purchased a new stake in shares of Maplebear during the 4th quarter valued at about $94,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

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.