Key Points
- Director Ravi Gupta sold 181,000 shares of Maplebear (Instacart parent) on June 2 at an average price of $41.51, totaling about $7.5 million. After the sale, he still held 741,523 shares, reducing his position by 19.62%.
- Maplebear’s latest earnings were mixed: Q1 EPS came in at $0.57, missing estimates by a penny, while revenue reached $1.02 billion and rose 13.6% year over year. Analysts currently expect full-year EPS of 2.45.
- Wall Street remains cautiously positive on CART, with a consensus “Moderate Buy” rating and an average price target of $51.09. Institutional ownership is also high, with hedge funds and other investors holding about 63.09% of the stock.
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Maplebear Inc. (NASDAQ:CART - Get Free Report) Director Ravi Gupta sold 181,000 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Maplebear Price Performance
Shares of CART stock opened at $41.48 on Friday. The stock's fifty day simple moving average is $40.41 and its 200 day simple moving average is $40.22. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 0.55 and a beta of 0.88. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50.
Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 EPS 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 quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 EPS. On average, research analysts anticipate that Maplebear Inc. will post 2.45 earnings per share for the current year.
Hedge Funds Weigh In On Maplebear
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Maplebear by 1.0% in the fourth quarter. State Street Corp now owns 5,461,637 shares of the company's stock valued at $245,664,000 after buying an additional 54,872 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Maplebear by 31.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company's stock worth $186,618,000 after purchasing an additional 1,189,287 shares in the last quarter. Viking Global Investors LP acquired a new position in shares of Maplebear during the second quarter worth approximately $169,782,000. Geode Capital Management LLC lifted its position in shares of Maplebear by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company's stock worth $158,640,000 after purchasing an additional 54,010 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Maplebear by 3.2% during the fourth quarter. Federated Hermes Inc. now owns 3,287,952 shares of the company's stock worth $147,892,000 after purchasing an additional 101,278 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on CART shares. Jefferies Financial Group upgraded shares of Maplebear from a "hold" rating to a "buy" rating and boosted their price target for the company from $38.00 to $45.00 in a research report on Monday, March 30th. Needham & Company LLC restated a "buy" rating and issued a $55.00 price target on shares of Maplebear in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Maplebear from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Wells Fargo & Company boosted their price target on shares of Maplebear from $45.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Maplebear from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. One investment 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $51.09.
Check Out Our Latest Report on Maplebear
Maplebear Company Profile
(
Get Free Report)
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.
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