Maplebear (NASDAQ:CART) Director Ravi Gupta Sells 181,000 Shares

Maplebear Inc. (NASDAQ:CART) Director Ravi Gupta sold 181,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the transaction, the director owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Maplebear Trading Up 3.8%

NASDAQ:CART traded up $1.50 during trading hours on Thursday, hitting $41.48. 3,543,807 shares of the company traded hands, compared to its average volume of 4,667,896. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 0.56 and a beta of 0.88. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50. The firm has a 50-day moving average of $40.30 and a 200 day moving average of $40.22.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. Equities research analysts predict that Maplebear Inc. will post 2.43 earnings per share for the current fiscal year.

Institutional Trading of Maplebear

A number of hedge funds and other institutional investors have recently made changes to their positions in CART. Allworth Financial LP boosted its position in Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after purchasing an additional 244 shares during the period. Smartleaf Asset Management LLC increased 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 during the period. Rafferty Asset Management LLC increased its stake in shares of Maplebear by 2.5% in the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock valued at $498,000 after buying an additional 273 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in Maplebear by 5.0% in the third quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock valued at $236,000 after acquiring an additional 304 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after acquiring an additional 389 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CART has been the topic of several analyst reports. Benchmark lowered their price target on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Weiss Ratings upgraded shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Barclays boosted their target price on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Maplebear in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Maplebear has an average rating of “Moderate Buy” and a consensus price target of $51.09.

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.