Fox Advisors Lowers Maplebear (NASDAQ:CART) to Equal Weight

Maplebear (NASDAQ:CART) was downgraded by stock analysts at Fox Advisors from an “overweight” rating to an “equal weight” rating in a research note issued on Monday, Briefing.com reports.

Several other equities analysts have also commented on the stock. Wedbush dropped their price target on shares of Maplebear from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, December 27th. Benchmark downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Wolfe Research increased their price objective on shares of Maplebear from $35.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Sanford C. Bernstein upgraded shares of Maplebear from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $30.00 to $43.00 in a research note on Thursday, March 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.61.

Maplebear Trading Up 0.5 %

CART stock opened at $37.29 on Monday. Maplebear has a 52 week low of $22.13 and a 52 week high of $42.95. The business’s 50-day moving average is $30.78.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.52. The company had revenue of $803.00 million for the quarter, compared to analysts’ expectations of $804.62 million. Maplebear’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Maplebear will post 0.53 earnings per share for the current year.

Insider Activity

In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of Maplebear stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of $27.90 per share, for a total transaction of $28,923,455.70. Following the transaction, the insider now owns 1,036,683 shares in the company, valued at approximately $28,923,455.70. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Us (Ttgp) Ltd. Sc bought 1,036,683 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average cost of $27.90 per share, for a total transaction of $28,923,455.70. Following the completion of the acquisition, the insider now directly owns 1,036,683 shares in the company, valued at approximately $28,923,455.70. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Nick Giovanni sold 900 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $35.00, for a total transaction of $31,500.00. Following the completion of the transaction, the chief financial officer now owns 591,077 shares of the company’s stock, valued at $20,687,695. The disclosure for this sale can be found here. In the last quarter, insiders acquired 2,157,745 shares of company stock worth $61,771,955 and sold 998,592 shares worth $28,401,288.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kapitalo Investimentos Ltda acquired a new position in shares of Maplebear in the fourth quarter worth about $69,000. Nomura Holdings Inc. acquired a new position in shares of Maplebear in the fourth quarter worth about $587,000. Vanguard Group Inc. boosted its holdings in shares of Maplebear by 151.8% in the fourth quarter. Vanguard Group Inc. now owns 62,952 shares of the company’s stock worth $1,477,000 after buying an additional 37,952 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Maplebear in the fourth quarter worth about $206,000. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Maplebear during the fourth quarter worth approximately $982,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

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.