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

Equities researchers at Jefferies Financial Group initiated coverage on shares of Maplebear (NASDAQ:CART) in a research note issued on Wednesday, Marketbeat reports. The firm set a “hold” rating and a $43.00 price target on the stock. Jefferies Financial Group’s price target indicates a potential upside of 0.70% from the company’s previous close.

Other analysts also recently issued reports about the stock. Raymond James started coverage on shares of Maplebear in a report on Tuesday, September 24th. They issued a “market perform” rating on the stock. Macquarie boosted their price target on shares of Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Citigroup increased their price objective on Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Morgan Stanley reduced their price target on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 24th. Finally, Wedbush boosted their price objective on shares of Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.10.

Maplebear Trading Up 1.7 %

Maplebear stock opened at $42.70 on Wednesday. The company’s 50-day moving average price is $37.61 and its two-hundred day moving average price is $35.40. The stock has a market cap of $11.30 billion and a price-to-earnings ratio of -2.16. Maplebear has a 52 week low of $22.13 and a 52 week high of $45.01.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping 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 revenue for the quarter was up 14.9% compared to the same quarter last year. Research analysts expect that Maplebear will post 1.14 earnings per share for the current fiscal year.

Insider Activity at Maplebear

In other news, CAO Alan Ramsay sold 2,626 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total value of $91,962.52. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Alan Ramsay sold 2,626 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $91,962.52. Following the sale, the chief accounting officer now directly owns 107,910 shares of the company’s stock, valued at approximately $3,779,008.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 33,000 shares of Maplebear stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,955 shares of company stock valued at $2,480,317. Corporate insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Nomura Holdings Inc. bought a new position in shares of Maplebear during the 4th quarter worth about $587,000. Kapitalo Investimentos Ltda bought a new position in Maplebear during the fourth quarter valued at about $69,000. Arkfeld Wealth Strategies L.L.C. bought a new position in Maplebear during the first quarter valued at about $448,000. Counterpoint Mutual Funds LLC acquired a new position in Maplebear in the 1st quarter valued at approximately $263,000. Finally, Hodges Capital Management Inc. bought a new stake in shares of Maplebear in the 1st quarter worth approximately $6,211,000. 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.