Maplebear (NASDAQ:CART) Price Target Raised to $45.00 at Stifel Nicolaus

Maplebear (NASDAQ:CART) had its target price upped by Stifel Nicolaus from $44.00 to $45.00 in a research note issued to investors on Thursday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

CART has been the subject of a number of other research reports. Needham & Company LLC reiterated a hold rating on shares of Maplebear in a research report on Tuesday. Loop Capital started coverage on shares of Maplebear in a report on Friday, April 19th. They set a buy rating and a $46.00 price target on the stock. Benchmark reaffirmed a hold rating on shares of Maplebear in a research note on Tuesday. Sanford C. Bernstein upgraded Maplebear from a market perform rating to an outperform rating and increased their target price for the company from $30.00 to $43.00 in a report on Thursday, March 14th. Finally, Moffett Nathanson reiterated a neutral rating and set a $37.00 price target (up previously from $36.00) on shares of Maplebear in a report on Thursday, April 11th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Maplebear has an average rating of Moderate Buy and a consensus price target of $40.89.

Maplebear Price Performance

Shares of NASDAQ CART traded down $1.15 during mid-day trading on Thursday, reaching $34.94. 5,706,643 shares of the company traded hands, compared to its average volume of 4,418,990. Maplebear has a fifty-two week low of $22.13 and a fifty-two week high of $42.95. The stock has a fifty day simple moving average of $36.28 and a 200-day simple moving average of $29.27.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.04 by $0.39. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $794.08 million. The company’s revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts forecast that Maplebear will post 0.58 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the transaction, 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 through the SEC website. In related news, CFO Nick Giovanni sold 900 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $35.00, for a total transaction of $31,500.00. Following the transaction, the chief financial officer now directly owns 591,077 shares in the company, valued at $20,687,695. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were purchased at an average cost of $27.90 per share, for a total transaction of $28,923,455.70. Following the completion of the transaction, the insider now directly owns 1,036,683 shares of the company’s stock, valued at approximately $28,923,455.70. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,157,745 shares of company stock worth $61,771,955 and have sold 1,055,899 shares worth $30,422,265. 36.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Maplebear

Institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its holdings in shares of Maplebear by 139.3% during the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after acquiring an additional 620 shares during the last quarter. Signaturefd LLC acquired a new position in Maplebear in the 3rd quarter valued at about $30,000. Cantor Fitzgerald L. P. raised its holdings in Maplebear by 389.5% in 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. Kapitalo Investimentos Ltda bought a new stake in shares of Maplebear during the fourth quarter worth approximately $69,000. Finally, Amalgamated Bank acquired a new position in shares of Maplebear in the fourth quarter valued at approximately $94,000. 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.