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

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

CART has been the subject of a number of other reports. Gordon Haskett raised shares of Maplebear from a hold rating to a buy rating and upped their price target for the stock from $37.00 to $45.00 in a research report on Wednesday, June 5th. BMO Capital Markets upped their target price on shares of Maplebear from $36.00 to $39.00 and gave the company a market perform rating in a research note on Wednesday, August 7th. KeyCorp assumed coverage on shares of Maplebear in a research note on Thursday, July 11th. They issued a sector weight rating on the stock. Wolfe Research assumed coverage on shares of Maplebear in a research note on Tuesday, July 16th. They issued a peer perform rating on the stock. Finally, Cantor Fitzgerald restated an overweight rating and issued a $45.00 target price on shares of Maplebear in a research note on Monday. Eleven investment 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, Maplebear currently has a consensus rating of Moderate Buy and a consensus price target of $43.33.

Maplebear Price Performance

Shares of NASDAQ CART opened at $39.46 on Tuesday. Maplebear has a 52-week low of $22.13 and a 52-week high of $42.58. The firm has a fifty day moving average of $35.03 and a 200-day moving average of $34.84.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) 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 company had revenue of $823.00 million during the quarter, compared to analysts’ expectations of $806.35 million. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, analysts anticipate that Maplebear will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In related news, General Counsel Morgan Fong sold 9,506 shares of Maplebear stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total value of $332,900.12. Following the completion of the sale, the general counsel now owns 372,335 shares of the company’s stock, valued at approximately $13,039,171.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, General Counsel Morgan Fong sold 9,506 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $332,900.12. Following the transaction, the general counsel now owns 372,335 shares in the company, valued at approximately $13,039,171.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Fidji Simo sold 33,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the completion of the sale, the chief executive officer now directly owns 1,844,778 shares in the company, valued at approximately $65,065,320.06. The disclosure for this sale can be found here. Insiders sold 67,655 shares of company stock valued at $2,504,824 in the last quarter. Company insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Several large investors have recently bought and sold shares of CART. Vanguard Group Inc. lifted its stake in Maplebear by 239.1% in the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock valued at $7,961,000 after acquiring an additional 150,544 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Maplebear during the 2nd quarter worth approximately $8,293,000. Investment House LLC acquired a new position in shares of Maplebear in the 2nd quarter worth approximately $750,000. GSA Capital Partners LLP bought a new stake in shares of Maplebear in the 1st quarter valued at $1,673,000. Finally, Nomura Holdings Inc. bought a new stake in Maplebear during the 4th quarter valued at $587,000. 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.