Maplebear (NASDAQ:CART) Sets New 12-Month High at $40.25

Maplebear Inc. (NASDAQ:CART)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $40.25 and last traded at $40.01, with a volume of 36830 shares traded. The stock had previously closed at $39.87.

Analysts Set New Price Targets

Several research firms have recently issued reports on CART. Wolfe Research began coverage on shares of Maplebear in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. BMO Capital Markets boosted their price target on shares of Maplebear from $36.00 to $39.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald began coverage on shares of Maplebear in a research report on Thursday, September 5th. They issued an “overweight” rating and a $45.00 price target for the company. Morgan Stanley boosted their price target on shares of Maplebear from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Macquarie boosted their price target on shares of Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Eleven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and an average target price of $42.81.

Maplebear Trading Up 2.1 %

The business’s 50 day moving average price is $34.46 and its 200-day moving average price is $34.59.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The company had revenue of $823.00 million for the quarter, compared to analyst estimates of $806.35 million. Maplebear’s revenue was up 14.9% compared to the same quarter last year. Research analysts predict that Maplebear Inc. will post 1.12 EPS for the current year.

Insiders Place Their Bets

In other Maplebear news, CEO Fidji Simo sold 8,500 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $33.04, for a total transaction of $280,840.00. Following the transaction, the chief executive officer now directly owns 1,984,167 shares in the company, valued at $65,556,877.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Maplebear news, CEO Fidji Simo sold 8,500 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $33.04, for a total value of $280,840.00. Following the sale, the chief executive officer now owns 1,984,167 shares of the company’s stock, valued at $65,556,877.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,626 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 54,332 shares of company stock worth $1,894,120. 36.00% of the stock is owned by company insiders.

Institutional Trading of Maplebear

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC lifted its holdings in shares of Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after purchasing an additional 620 shares in the last quarter. Cantor Fitzgerald L. P. lifted its stake in shares of Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after buying an additional 2,489 shares during the period. nVerses Capital LLC lifted its stake in shares of Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after buying an additional 1,600 shares during the period. Kapitalo Investimentos Ltda purchased a new position in shares of Maplebear during the fourth quarter valued at approximately $69,000. Finally, Amalgamated Bank purchased a new position in shares of Maplebear during the fourth quarter valued at approximately $94,000. Hedge funds and other institutional investors 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.