Maplebear (NASDAQ:CART) Raised to Strong-Buy at Fox Advisors

Maplebear (NASDAQ:CART) was upgraded by stock analysts at Fox Advisors from a “hold” rating to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

CART has been the topic of several other research reports. Sanford C. Bernstein raised their target price on shares of Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Wells Fargo & Company reduced their target price on shares of Maplebear from $57.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Friday. Stifel Nicolaus reduced their target price on shares of Maplebear from $64.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. Wedbush reaffirmed an “underperform” rating and issued a $42.00 price target (down from $55.00) on shares of Maplebear in a research note on Thursday, August 21st. Finally, Barclays increased their price target on shares of Maplebear from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.42.

Maplebear Trading Down 2.8%

Shares of NASDAQ CART opened at $38.18 on Friday. The firm has a market capitalization of $10.06 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 1.32 and a beta of 1.10. Maplebear has a 1 year low of $34.87 and a 1 year high of $53.50. The firm’s 50-day moving average is $44.70 and its 200-day moving average is $44.26.

Maplebear (NASDAQ:CART) last issued its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS. As a group, equities research analysts anticipate that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Maplebear

In related news, insider Daniel Danker sold 10,037 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $48.82, for a total transaction of $490,006.34. Following the completion of the sale, the insider directly owned 470,190 shares of the company’s stock, valued at approximately $22,954,675.80. This represents a 2.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fidji Simo sold 7,140 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.30, for a total value of $337,722.00. Following the sale, the director directly owned 573,807 shares of the company’s stock, valued at approximately $27,141,071.10. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,986,367 shares of company stock worth $238,211,261 in the last quarter. Company insiders own 26.00% of the company’s stock.

Institutional Trading of Maplebear

A number of large investors have recently bought and sold shares of CART. Securian Asset Management Inc. grew its stake in shares of Maplebear by 2.1% in the second quarter. Securian Asset Management Inc. now owns 12,509 shares of the company’s stock valued at $566,000 after buying an additional 252 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Maplebear by 9.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock valued at $134,000 after buying an additional 261 shares in the last quarter. Rafferty Asset Management LLC boosted its position in Maplebear by 2.5% during the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after purchasing an additional 273 shares during the period. CWM LLC boosted its position in Maplebear by 35.1% during the first quarter. CWM LLC now owns 1,058 shares of the company’s stock worth $42,000 after purchasing an additional 275 shares during the period. Finally, Signaturefd LLC boosted its position in Maplebear by 27.1% during the first quarter. Signaturefd LLC now owns 1,335 shares of the company’s stock worth $53,000 after purchasing an additional 285 shares during the period. 63.09% of the stock is owned by institutional investors.

About Maplebear

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.