Maplebear (NASDAQ:CART) Now Covered by Loop Capital

Loop Capital assumed coverage on shares of Maplebear (NASDAQ:CART) in a research report report published on Friday, MarketBeat.com reports. The firm issued a buy rating and a $46.00 price target on the stock.

CART has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price target on Maplebear from $35.00 to $45.00 and gave the company an overweight rating in a research note on Monday, March 25th. Robert W. Baird lifted their price target on Maplebear from $31.00 to $44.00 and gave the company an outperform rating in a research note on Monday, April 1st. Piper Sandler lifted their price target on Maplebear from $36.00 to $45.00 and gave the company an overweight rating in a research note on Friday, March 15th. Wolfe Research lifted their price target on Maplebear from $35.00 to $39.00 and gave the company an outperform rating in a research note on Tuesday, March 5th. Finally, Barclays lifted their price target on Maplebear from $40.00 to $41.00 and gave the company an overweight rating in a research note on Wednesday, February 14th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Maplebear has a consensus rating of Moderate Buy and a consensus target price of $38.16.

Maplebear Stock Performance

Shares of CART opened at $35.23 on Friday. The stock has a 50-day moving average of $34.42 and a 200-day moving average of $28.22. Maplebear has a one year low of $22.13 and a one year high of $42.95.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) 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 analyst estimates of $804.62 million. The company’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts forecast that Maplebear will post 0.53 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of $27.90 per share, with a total value of $28,923,455.70. Following the acquisition, the insider now owns 1,036,683 shares of the company’s stock, valued at approximately $28,923,455.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc bought 1,036,683 shares of the stock in a transaction on Tuesday, February 20th. The shares were 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 approximately $28,923,455.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Nick Giovanni sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $36.97, for a total transaction of $369,700.00. Following the sale, the chief financial officer now directly owns 576,977 shares in the company, valued at approximately $21,330,839.69. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 2,157,745 shares of company stock valued at $61,771,955 and have sold 1,008,592 shares valued at $28,770,988. 4.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maplebear

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC raised its holdings in 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 acquiring an additional 620 shares during the period. Signaturefd LLC bought a new stake in Maplebear during the 3rd quarter valued at $30,000. Cantor Fitzgerald L. P. raised its holdings in 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 acquiring an additional 2,489 shares during the period. UBS Group AG bought a new stake in Maplebear during the 3rd quarter valued at $56,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Maplebear in the fourth quarter worth $69,000. Institutional investors own 63.09% of the company’s stock.

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.