Maplebear Inc. (NASDAQ:CART) Given Consensus Recommendation of “Hold” by Analysts

Maplebear Inc. (NASDAQ:CART) has been given an average rating of “Hold” by the twenty-seven research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $51.04.

Several equities analysts have recently commented on the stock. Cantor Fitzgerald upped their price objective on shares of Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. BNP Paribas Exane assumed coverage on Maplebear in a report on Wednesday, January 14th. They set an “underperform” rating and a $41.00 price target on the stock. Fox Advisors lowered Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Argus upgraded Maplebear to a “strong-buy” rating in a report on Thursday, March 5th. Finally, Wells Fargo & Company cut their price objective on Maplebear from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, February 13th.

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 126,083 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total value of $4,676,418.47. Following the completion of the sale, the general counsel owned 386,643 shares of the company’s stock, valued at $14,340,588.87. This trade represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 26.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC purchased a new stake in shares of Maplebear in the 4th quarter worth about $912,000. Pacer Advisors Inc. increased its position in shares of Maplebear by 43.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,128,151 shares of the company’s stock valued at $50,744,000 after buying an additional 342,283 shares during the period. Compound Planning Inc. increased its position in shares of Maplebear by 2.8% during the fourth quarter. Compound Planning Inc. now owns 19,347 shares of the company’s stock valued at $870,000 after buying an additional 523 shares during the period. Invesco Ltd. raised its stake in Maplebear by 11.2% in the fourth quarter. Invesco Ltd. now owns 1,777,389 shares of the company’s stock worth $79,947,000 after buying an additional 179,459 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in Maplebear in the fourth quarter worth about $1,206,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Up 1.4%

Shares of Maplebear stock opened at $38.23 on Monday. The firm has a market cap of $9.20 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 0.58 and a beta of 0.98. Maplebear has a 12-month low of $32.73 and a 12-month high of $53.50. The company’s fifty day simple moving average is $38.00 and its two-hundred day simple moving average is $40.45.

Maplebear Company Profile

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.