Maplebear (NASDAQ:CART) Given "Overweight" Rating at Cantor Fitzgerald

Maplebear (NASDAQ:CART - Get Free Report)'s stock had its "overweight" rating restated by equities research analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $45.00 price objective on the stock. Cantor Fitzgerald's price target points to a potential upside of 6.13% from the company's previous close.

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CART has been the topic of several other reports. Wedbush upped their price objective on Maplebear from $35.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Macquarie increased their price target on Maplebear from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Piper Sandler raised their price target on Maplebear from $47.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Bank of America increased their target price on shares of Maplebear from $41.00 to $45.00 and gave the company a "neutral" rating in a research note on Tuesday, September 24th. 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 report on Tuesday, September 24th. Eleven equities research 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.33.

Read Our Latest Analysis on Maplebear

Maplebear Price Performance

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Shares of NASDAQ:CART traded up $1.99 during mid-day trading on Monday, reaching $42.40. The stock had a trading volume of 1,416,721 shares, compared to its average volume of 4,044,106. The business's 50 day moving average price is $35.77 and its 200 day moving average price is $35.04. Maplebear has a 1 year low of $22.13 and a 1 year high of $42.62.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.07. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. The firm had revenue of $823.00 million during the quarter, compared to the consensus estimate of $806.35 million. The firm's quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts forecast that Maplebear will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

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In related news, General Counsel Morgan Fong sold 10,992 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $41.38, for a total value of $454,848.96. Following the sale, the general counsel now owns 298,984 shares in the company, valued at $12,371,957.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 transaction, the chief executive officer now owns 1,844,778 shares in the company, valued at $65,065,320.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Morgan Fong sold 10,992 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $41.38, for a total transaction of $454,848.96. Following the completion of the sale, the general counsel now owns 298,984 shares of the company's stock, valued at $12,371,957.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,655 shares of company stock valued at $2,504,824. Insiders own 36.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CART. Parallel Advisors LLC raised its position in Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company's stock valued at $25,000 after purchasing an additional 620 shares during the period. Honeycomb Asset Management LP purchased a new position in shares of Maplebear in the 4th quarter valued at about $3,520,000. Cantor Fitzgerald L. P. grew its position in shares of Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company's stock worth $43,000 after buying an additional 2,489 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Maplebear during the fourth quarter worth approximately $587,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Maplebear in the fourth quarter valued at approximately $69,000. Institutional investors and hedge funds 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.

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