Brokerages Set Maplebear Inc. (NASDAQ:CART) PT at $51.29

Shares of Maplebear Inc. (NASDAQ:CART) have been given an average recommendation of “Moderate Buy” by the twenty-six research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $51.2917.

Several equities research analysts have recently issued reports on CART shares. Argus raised Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Wall Street Zen raised Maplebear from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Fox Advisors downgraded Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a research report on Monday, December 29th. Finally, Cantor Fitzgerald lifted their target price on Maplebear from $45.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $41.12 on Friday. The company has a market cap of $9.89 billion, a P/E ratio of 25.86, a P/E/G ratio of 0.59 and a beta of 0.88. The stock’s 50-day moving average is $37.00 and its 200-day moving average is $39.62. Maplebear has a 52-week low of $32.73 and a 52-week high of $53.50.

Insider Transactions at Maplebear

In related news, General Counsel Morgan Fong sold 126,083 shares of Maplebear stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the sale, the general counsel directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of Maplebear stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $38.74, for a total value of $363,768.60. Following the sale, the chief accounting officer directly owned 47,510 shares in the company, valued at approximately $1,840,537.40. This trade represents a 16.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 26.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maplebear

A number of institutional investors have recently added to or reduced their stakes in CART. Viking Global Investors LP acquired a new stake in Maplebear during the second quarter worth about $169,782,000. Marshall Wace LLP bought a new position in Maplebear during the fourth quarter worth about $126,206,000. Holocene Advisors LP bought a new position in Maplebear during the third quarter worth about $90,167,000. Norges Bank bought a new position in Maplebear during the fourth quarter worth about $97,221,000. Finally, Dimensional Fund Advisors LP lifted its stake in Maplebear by 114.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock worth $170,594,000 after purchasing an additional 2,026,567 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

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.