Maplebear (NASDAQ:CART) Shares Gap Down – Time to Sell?

Maplebear Inc. (NASDAQ:CART) gapped down before the market opened on Wednesday . The stock had previously closed at $47.35, but opened at $43.07. Maplebear shares last traded at $44.0580, with a volume of 1,083,345 shares.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen downgraded Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Argus upgraded Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Citizens Jmp reissued a “market outperform” rating and set a $60.00 target price on shares of Maplebear in a report on Monday, June 15th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Maplebear in a research report on Thursday, May 7th. Finally, Jefferies Financial Group upgraded shares of Maplebear from a “hold” rating to a “buy” rating and upped their price target for the company from $38.00 to $45.00 in a research note on Monday, March 30th. 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 given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.09.

Maplebear Price Performance

The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 0.61 and a beta of 0.75. The stock has a 50-day moving average of $42.28 and a 200-day moving average of $40.46.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. Maplebear’s revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 earnings per share. On average, equities analysts expect that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Insider Transactions at Maplebear

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total value of $377,947.50. Following the transaction, the chief accounting officer directly owned 58,971 shares of the company’s stock, valued at $2,373,582.75. This trade represents a 13.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director directly owned 741,523 shares in the company, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 24.00% of the stock is owned by insiders.

Institutional Trading of Maplebear

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new position in Maplebear in the first quarter valued at approximately $25,000. PenderFund Capital Management Ltd. bought a new stake in Maplebear during the fourth quarter worth $27,000. Allworth Financial LP lifted its stake 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 last quarter. IFP Advisors Inc boosted its holdings in shares of Maplebear by 761.3% in the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after purchasing an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after purchasing an additional 787 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

About Maplebear

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.