Maplebear (NASDAQ:CART) Rating Reiterated by Benchmark

Maplebear (NASDAQ:CART)‘s stock had its “hold” rating reissued by analysts at Benchmark in a research report issued to clients and investors on Tuesday, Benzinga reports.

CART has been the subject of a number of other reports. Piper Sandler upped their target price on Maplebear from $36.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Moffett Nathanson reaffirmed a “neutral” rating and set a $37.00 target price (up previously from $36.00) on shares of Maplebear in a research note on Thursday, April 11th. Morgan Stanley boosted their price target on shares of Maplebear from $28.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday. Robert W. Baird lifted their price objective on shares of Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Finally, Loop Capital assumed coverage on shares of Maplebear in a research note on Friday, April 19th. They set a “buy” rating and a $46.00 target price for the company. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.42.

Maplebear Price Performance

NASDAQ:CART opened at $37.48 on Tuesday. Maplebear has a 1 year low of $22.13 and a 1 year high of $42.95. The business has a fifty day moving average of $36.05 and a 200-day moving average of $29.09.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating the consensus estimate 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. Maplebear’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts forecast that Maplebear will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 12,178 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $34.90, for a total transaction of $425,012.20. Following the transaction, the chief accounting officer now directly owns 118,142 shares in the company, valued at approximately $4,123,155.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Alan Ramsay sold 12,178 shares of Maplebear stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $34.90, for a total transaction of $425,012.20. Following the completion of the sale, the chief accounting officer now directly owns 118,142 shares in the company, valued at approximately $4,123,155.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Fidji Simo sold 3,236 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $35.09, for a total value of $113,551.24. Following the completion of the sale, the chief executive officer now directly owns 2,125,301 shares of the company’s stock, valued at approximately $74,576,812.09. The disclosure for this sale can be found here. In the last quarter, insiders purchased 2,157,745 shares of company stock worth $61,771,955 and sold 1,055,899 shares worth $30,422,265. Insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CART. SC US Ttgp LTD. acquired a new position in Maplebear during the third quarter worth $1,180,490,000. KPCB DGF II Associates LLC acquired a new position in shares of Maplebear during the 3rd quarter valued at about $119,544,000. Canaan Partners IX LLC bought a new position in shares of Maplebear in the 4th quarter valued at approximately $87,508,000. Norges Bank acquired a new stake in Maplebear in the 4th quarter worth approximately $78,674,000. Finally, Technology Crossover Management XI Ltd. bought a new stake in Maplebear during the third quarter worth approximately $80,163,000. 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.