Key Points
- Director Ravi Gupta sold 150,000 Maplebear shares at an average price of $50.61, generating $7.59 million and reducing his ownership by 20.23% to 591,523 shares.
- Maplebear’s latest quarterly results beat revenue expectations but missed on earnings, reporting $1.04 billion in revenue and $0.45 EPS versus the $0.54 consensus estimate.
- Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $55.90; targets range from $54 to $63.
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Maplebear Inc. (NASDAQ:CART - Get Free Report) Director Ravi Gupta sold 150,000 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total value of $7,591,500.00. Following the completion of the sale, the director owned 591,523 shares of the company's stock, valued at $29,936,979.03. This trade represents a 20.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Ravi Gupta also recently made the following trade(s):
- On Tuesday, June 2nd, Ravi Gupta sold 181,000 shares of Maplebear stock. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00.
Maplebear Price Performance
NASDAQ:CART opened at $49.83 on Friday. The business's 50-day simple moving average is $46.61 and its 200-day simple moving average is $41.66. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $51.81. The stock has a market capitalization of $11.54 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 0.75 and a beta of 0.78.
Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.09). The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%.Maplebear's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. On average, research analysts expect that Maplebear Inc. will post 2.33 earnings per share for the current year.
Hedge Funds Weigh In On Maplebear
Hedge funds have recently modified their holdings of the stock. PenderFund Capital Management Ltd. acquired a new stake in shares of Maplebear in the fourth quarter valued at about $27,000. Pinnacle Bancorp Inc. acquired a new position in Maplebear during the first quarter valued at approximately $25,000. 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 valued at $34,000 after purchasing an additional 244 shares during the last quarter. IFP Advisors Inc grew its stake in Maplebear by 761.3% in the fourth 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. increased its position in shares of Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock worth $43,000 after purchasing an additional 787 shares during the last quarter. Institutional investors own 63.09% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently commented on CART shares. BNP Paribas Exane upgraded shares of Maplebear from an "underperform" rating to a "neutral" rating and set a $56.00 price objective on the stock in a report on Friday, August 7th. Wall Street Zen lowered shares of Maplebear from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Wells Fargo & Company increased their target price on Maplebear from $47.00 to $54.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Citigroup lifted their price target on Maplebear from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Finally, Benchmark boosted their price target on Maplebear from $55.00 to $63.00 and gave the company a "buy" rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $55.90.
Check Out Our Latest Stock Analysis on CART
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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