Maplebear (NASDAQ:CART) Receives Hold Rating from Benchmark

Benchmark reiterated their hold rating on shares of Maplebear (NASDAQ:CART) in a research note released on Wednesday,Benzinga reports.

A number of other research firms also recently commented on CART. Piper Sandler lifted their target price on Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Bank of America increased their price objective on shares of Maplebear from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday. BTIG Research raised shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price target on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $56.00 price objective on shares of Maplebear in a report on Wednesday. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.80.

Maplebear Stock Down 12.3 %

CART stock opened at $42.80 on Wednesday. The stock has a market capitalization of $11.00 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07. Maplebear has a 52 week low of $29.84 and a 52 week high of $53.44. The firm has a 50 day moving average of $46.48 and a 200 day moving average of $42.68.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. On average, equities research analysts expect that Maplebear will post 1.43 earnings per share for the current year.

Insider Buying and Selling at Maplebear

In other news, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the sale, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the sale, the chief accounting officer now owns 87,735 shares of the company’s stock, valued at $3,697,152.90. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,311 shares of company stock valued at $1,088,636 over the last quarter. 36.00% of the stock is currently owned by insiders.

Institutional Trading of Maplebear

Several large investors have recently bought and sold shares of CART. Mackenzie Financial Corp grew its position in shares of Maplebear by 559.1% in the fourth quarter. Mackenzie Financial Corp now owns 162,111 shares of the company’s stock valued at $6,715,000 after purchasing an additional 137,514 shares in the last quarter. Cache Advisors LLC acquired a new stake in shares of Maplebear in the 4th quarter worth $304,000. WCG Wealth Advisors LLC raised its holdings in shares of Maplebear by 3.3% during the 4th quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock worth $590,000 after acquiring an additional 451 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Maplebear by 69.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 111,116 shares of the company’s stock valued at $4,602,000 after purchasing an additional 45,458 shares during the period. Finally, PharVision Advisers LLC purchased a new stake in shares of Maplebear in the fourth quarter valued at about $232,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.