Maplebear (NASDAQ:CART) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Maplebear (NASDAQ:CART) in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage issued a hold rating and a $43.00 price target on the stock.

Other analysts have also issued reports about the company. KeyCorp initiated coverage on Maplebear in a report on Thursday, July 11th. They issued a “sector weight” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Wedbush upped their price target on Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Macquarie lifted their price objective on shares of Maplebear from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Morgan Stanley lowered their target price on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 24th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.10.

Maplebear Trading Up 0.1 %

CART stock opened at $42.76 on Wednesday. The company has a market capitalization of $11.32 billion and a P/E ratio of -2.16. The firm has a 50 day simple moving average of $37.83 and a 200-day simple moving average of $35.43. Maplebear has a twelve month low of $22.13 and a twelve month high of $45.01.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. The company had revenue of $823.00 million during the quarter, compared to analyst estimates of $806.35 million. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. On average, research analysts predict that Maplebear will post 1.14 EPS for the current year.

Insider Transactions at Maplebear

In other news, CAO Alan Ramsay sold 2,626 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $91,962.52. Following the completion of the transaction, the chief accounting officer now owns 107,910 shares of the company’s stock, valued at approximately $3,779,008.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Maplebear news, CAO Alan Ramsay sold 2,626 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 $91,962.52. Following the sale, the chief accounting officer now directly owns 107,910 shares in the company, valued at approximately $3,779,008.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fidji Simo sold 33,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was 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 of the company’s stock, valued at approximately $65,065,320.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,955 shares of company stock worth $2,480,317. Company insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

Several hedge funds have recently modified their holdings of the company. Renaissance Capital LLC lifted its holdings in shares of Maplebear by 20.0% in the third quarter. Renaissance Capital LLC now owns 185,593 shares of the company’s stock valued at $7,561,000 after buying an additional 30,989 shares during the period. Creative Planning raised its position in Maplebear by 1,141.9% in the third quarter. Creative Planning now owns 118,802 shares of the company’s stock worth $4,840,000 after acquiring an additional 109,236 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Maplebear by 3.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 64,943 shares of the company’s stock valued at $2,646,000 after acquiring an additional 1,993 shares during the last quarter. Paragon Capital Management Ltd boosted its position in shares of Maplebear by 50.0% during the 3rd quarter. Paragon Capital Management Ltd now owns 9,555 shares of the company’s stock valued at $389,000 after purchasing an additional 3,185 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC acquired a new position in shares of Maplebear in the 3rd quarter worth approximately $231,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

About Maplebear

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.