Maplebear (NASDAQ:CART) Given New $45.00 Price Target at Morgan Stanley

Maplebear (NASDAQ:CART) had its price target increased by Morgan Stanley from $43.00 to $45.00 in a report released on Tuesday, Benzinga reports. They currently have an equal weight rating on the stock.

CART has been the topic of a number of other research reports. Macquarie assumed coverage on Maplebear in a research note on Monday, March 25th. They set an outperform rating and a $42.00 target price on the stock. Fox Advisors lowered Maplebear from an overweight rating to an equal weight rating in a report on Monday, April 1st. Moffett Nathanson reiterated a neutral rating and issued a $37.00 price target (up previously from $36.00) on shares of Maplebear in a report on Thursday, April 11th. Citigroup boosted their price target on Maplebear from $42.00 to $44.00 and gave the company a buy rating in a report on Thursday, May 9th. Finally, Piper Sandler reiterated an overweight rating and issued a $47.00 price target (up previously from $45.00) on shares of Maplebear in a report on Thursday, May 9th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $41.50.

Maplebear Stock Up 0.4 %

CART opened at $34.09 on Tuesday. The stock’s 50 day moving average price is $33.18 and its 200-day moving average price is $32.41. Maplebear has a one year low of $22.13 and a one year high of $42.95.

Maplebear (NASDAQ:CART) last released its earnings results on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.39. The business had revenue of $820.00 million for the quarter, compared to the consensus estimate of $794.08 million. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts forecast that Maplebear will post 1.01 earnings per share for the current year.

Insider Activity

In other news, CEO Fidji Simo sold 2,500 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $33.81, for a total transaction of $84,525.00. Following the completion of the sale, the chief executive officer now owns 1,992,667 shares in the company, valued at approximately $67,372,071.27. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Alan Ramsay sold 12,178 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $34.90, for a total value of $425,012.20. Following the transaction, the chief accounting officer now directly owns 118,142 shares of the company’s stock, valued at approximately $4,123,155.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 2,500 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $33.81, for a total value of $84,525.00. Following the completion of the transaction, the chief executive officer now directly owns 1,992,667 shares in the company, valued at $67,372,071.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,008 shares of company stock worth $2,795,362. Insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

Hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Maplebear in the 4th quarter valued at $78,674,000. GSA Capital Partners LLP acquired a new stake in Maplebear during the 1st quarter worth about $1,673,000. Nomura Holdings Inc. acquired a new stake in Maplebear during the 4th quarter worth about $587,000. Capstone Investment Advisors LLC grew its position in Maplebear by 37.7% during the 1st quarter. Capstone Investment Advisors LLC now owns 172,134 shares of the company’s stock worth $6,419,000 after purchasing an additional 47,134 shares during the period. Finally, Hodges Capital Management Inc. acquired a new stake in Maplebear during the 1st quarter worth about $6,211,000. 63.09% of the stock is owned by institutional investors and hedge funds.

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.