Maplebear (NASDAQ:CART) Shares Gap Up to $30.13

Maplebear Inc. (NASDAQ:CARTGet Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $30.13, but opened at $31.00. Maplebear shares last traded at $30.79, with a volume of 544,720 shares.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CART shares. Piper Sandler reissued an “overweight” rating and set a $47.00 price target (up from $45.00) on shares of Maplebear in a report on Thursday, May 9th. Sanford C. Bernstein upgraded shares of Maplebear from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $30.00 to $43.00 in a research report on Thursday, March 14th. Barclays increased their price target on shares of Maplebear from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Citigroup increased their price target on shares of Maplebear from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Stifel Nicolaus increased their price target on shares of Maplebear from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and a consensus price target of $41.25.

Get Our Latest Stock Analysis on Maplebear

Maplebear Trading Up 1.7 %

The company’s fifty day simple moving average is $35.13 and its two-hundred day simple moving average is $30.10.

Maplebear (NASDAQ:CARTGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.39. The company had revenue of $820.00 million for the quarter, compared to analyst estimates of $794.08 million. Maplebear’s quarterly revenue was up 8.0% on a year-over-year basis. Sell-side analysts predict that Maplebear Inc. will post 1.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 12,113 shares of Maplebear stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.33, for a total value of $415,839.29. Following the completion of the transaction, the chief accounting officer now directly owns 114,205 shares of the company’s stock, valued at approximately $3,920,657.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Maplebear news, CEO Fidji Simo sold 82,461 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $38.07, for a total transaction of $3,139,290.27. Following the completion of the transaction, the chief executive officer now directly owns 926,654 shares of the company’s stock, valued at approximately $35,277,717.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Alan Ramsay sold 12,113 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.33, for a total transaction of $415,839.29. Following the transaction, the chief accounting officer now directly owns 114,205 shares of the company’s stock, valued at $3,920,657.65. The disclosure for this sale can be found here. Insiders sold a total of 313,198 shares of company stock valued at $11,224,182 in the last ninety days. Corporate insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

A number of institutional investors have recently made changes to their positions in CART. Parallel Advisors LLC lifted its stake in shares of Maplebear by 139.3% in the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after acquiring an additional 620 shares during the period. Cantor Fitzgerald L. P. lifted its stake in Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after purchasing an additional 2,489 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Maplebear during the fourth quarter valued at approximately $69,000. Amalgamated Bank acquired a new stake in Maplebear during the fourth quarter valued at approximately $94,000. Finally, International Assets Investment Management LLC acquired a new stake in Maplebear during the fourth quarter valued at approximately $110,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Company Profile

(Get Free Report)

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.

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