Key Points
- Insider sale: Morgan Fong sold 18,390 Maplebear shares at an average price of $49.96, generating approximately $918,764. The transaction, conducted under a Rule 10b5-1 plan, reduced Fong’s holdings by 3.35% to 529,911 shares.
- Latest financial results: Maplebear reported quarterly revenue of $1.04 billion, up 14.1% year over year and slightly above expectations, but earnings per share of $0.45 missed the $0.54 consensus estimate.
- Analyst outlook: Wall Street maintains a “Moderate Buy” consensus rating, with an average price target of $55.90 versus the stock’s $50.77 opening price. Institutional investors own approximately 63.09% of the company.
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Maplebear Inc. (NASDAQ:CART - Get Free Report) insider Morgan Fong sold 18,390 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $49.96, for a total transaction of $918,764.40. Following the sale, the insider owned 529,911 shares of the company's stock, valued at approximately $26,474,353.56. The trade was a 3.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Maplebear Stock Performance
CART stock opened at $50.77 on Thursday. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 0.76 and a beta of 0.78. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $52.05. The stock has a fifty day moving average of $47.11 and a 200-day moving average of $42.02.
Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.09). Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The firm's quarterly revenue was up 14.1% on a year-over-year basis. Equities analysts predict that Maplebear Inc. will post 2.33 EPS for the current year.
Wall Street Analyst Weigh In
CART has been the subject of a number of analyst reports. Wedbush started coverage on shares of Maplebear in a research report on Thursday, July 16th. They issued an "outperform" rating and a $59.00 price objective for the company. Citizens Jmp reiterated a "market outperform" rating and issued a $60.00 target price on shares of Maplebear in a research note on Monday, June 15th. BNP Paribas Exane upgraded shares of Maplebear from an "underperform" rating to a "neutral" rating and set a $56.00 target price on the stock in a research note on Friday, August 7th. Wells Fargo & Company raised their price target on shares of Maplebear from $47.00 to $54.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Maplebear from $55.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.90.
Get Our Latest Report on Maplebear
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of CART. Pinnacle Bancorp Inc. purchased a new stake in Maplebear during the 1st quarter valued at about $25,000. PenderFund Capital Management Ltd. purchased a new position in Maplebear in the 4th quarter worth approximately $27,000. Allworth Financial LP increased its stake in Maplebear by 35.7% in the 3rd 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. IFP Advisors Inc lifted its position 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 during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in shares of Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock valued at $43,000 after purchasing an additional 787 shares during the period. 63.09% of the stock is currently owned by institutional investors.
Maplebear Company Profile
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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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