Maplebear Inc. (NASDAQ:CART) Receives $51.29 Average PT from Brokerages

Maplebear Inc. (NASDAQ:CART) has earned an average recommendation of “Moderate Buy” from the twenty-seven analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $51.2917.

CART has been the topic of several analyst reports. BNP Paribas Exane started coverage on shares of Maplebear in a research report on Wednesday, January 14th. They set an “underperform” rating and a $41.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of Maplebear from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, March 30th. Argus raised shares of Maplebear to a “strong-buy” rating in a report on Thursday, March 5th. Raymond James Financial raised shares of Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. Finally, Stifel Nicolaus decreased their price objective on shares of Maplebear from $49.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, January 27th.

Maplebear Stock Performance

CART stock opened at $43.29 on Tuesday. The firm has a market cap of $10.25 billion, a PE ratio of 27.23, a P/E/G ratio of 0.65 and a beta of 0.96. The firm’s fifty day moving average is $38.99 and its 200 day moving average is $39.86. Maplebear has a one year low of $32.73 and a one year high of $53.50.

Insider Buying and Selling at Maplebear

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total transaction of $377,947.50. Following the transaction, the chief accounting officer directly owned 58,971 shares of the company’s stock, valued at $2,373,582.75. This trade represents a 13.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Morgan Fong sold 126,083 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the transaction, the general counsel directly owned 386,643 shares in the company, valued at approximately $14,340,588.87. The trade was a 24.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 144,863 shares of company stock worth $5,418,135. Insiders own 24.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CART. PenderFund Capital Management Ltd. purchased a new position in shares of Maplebear in the fourth quarter worth about $27,000. Pinnacle Bancorp Inc. purchased a new position in shares of Maplebear in the first quarter worth about $25,000. Hantz Financial Services Inc. lifted its stake in shares of Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after buying an additional 389 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after buying an additional 244 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of Maplebear by 761.3% in the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after buying an additional 845 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.