Maplebear (NASDAQ:CART) Now Covered by Raymond James

Equities researchers at Raymond James assumed coverage on shares of Maplebear (NASDAQ:CART) in a research note issued to investors on Tuesday, MarketBeat reports. The firm set a “market perform” rating on the stock.

CART has been the topic of a number of other research reports. Wolfe Research started coverage on shares of Maplebear in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Gordon Haskett raised Maplebear from a “hold” rating to a “buy” rating and raised their price objective for the company from $37.00 to $45.00 in a research report on Wednesday, June 5th. KeyCorp assumed coverage on Maplebear in a research note on Thursday, July 11th. They set a “sector weight” rating on the stock. Macquarie increased their target price on Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Citigroup raised their target price on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Eleven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and a consensus price target of $42.62.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $40.22 on Tuesday. The business has a 50-day moving average of $34.86 and a two-hundred day moving average of $34.76. Maplebear has a 12 month low of $22.13 and a 12 month high of $42.58.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $823.00 million during the quarter, compared to the consensus estimate of $806.35 million. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities research analysts anticipate that Maplebear will post 1.12 EPS for the current year.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 2,626 shares of Maplebear stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $91,962.52. Following the completion of the transaction, the chief accounting officer now owns 107,910 shares in the company, valued at approximately $3,779,008.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Fidji Simo sold 8,500 shares of the 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 sale, the chief executive officer now owns 1,984,167 shares in the company, valued at $65,556,877.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Alan Ramsay sold 2,626 shares of Maplebear stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 107,910 shares of the company’s stock, valued at $3,779,008.20. The disclosure for this sale can be found here. Insiders have sold 73,669 shares of company stock worth $2,682,769 over the last quarter. 36.00% of the stock is owned by corporate insiders.

Institutional Trading of Maplebear

Several hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC grew its stake in Maplebear by 139.3% during the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after buying an additional 620 shares during the last quarter. Cantor Fitzgerald L. P. grew its position 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 worth $43,000 after acquiring an additional 2,489 shares during the last quarter. nVerses Capital LLC grew its position 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 worth $55,000 after acquiring an additional 1,600 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Maplebear in the 4th quarter worth about $69,000. Finally, Quarry LP lifted its position in Maplebear by 269.5% in the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares during the last quarter. 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.