Key Points
- Maplebear CAO Lisa Blackwood-Kapral sold 3,017 shares at an average price of $47.08, generating approximately $142,040; the transaction was conducted under a pre-arranged Rule 10b5-1 plan.
- Maplebear reported quarterly revenue of $1.04 billion, up 14.1% year over year, but earnings per share of $0.45 fell short of the $0.54 analyst consensus.
- Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $56.14, above its recent $45.43 opening price.
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Maplebear Inc. (NASDAQ:CART - Get Free Report) CAO Lisa Blackwood-Kapral sold 3,017 shares of Maplebear stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $47.08, for a total value of $142,040.36. Following the completion of the sale, the chief accounting officer directly owned 37,715 shares in the company, valued at approximately $1,775,622.20. This represents a 7.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Maplebear Stock Performance
NASDAQ CART opened at $45.43 on Friday. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $52.68. The stock's 50 day moving average price is $47.98 and its two-hundred day moving average price is $43.52. The stock has a market capitalization of $10.52 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 0.91 and a beta of 0.80.
Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business earned $0.41 earnings per share. Maplebear's revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts forecast that Maplebear Inc. will post 2.33 EPS for the current year.
Hedge Funds Weigh In On Maplebear
A number of institutional investors have recently added to or reduced their stakes in CART. PNC Financial Services Group Inc. grew its position in shares of Maplebear by 7.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,134 shares of the company's stock valued at $276,000 after acquiring an additional 427 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Maplebear by 8.7% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,450 shares of the company's stock valued at $242,000 after purchasing an additional 514 shares during the period. Versant Capital Management Inc raised its holdings in shares of Maplebear by 94.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,215 shares of the company's stock valued at $58,000 after purchasing an additional 591 shares during the period. Parallel Advisors LLC lifted its stake in Maplebear by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 31,103 shares of the company's stock valued at $1,399,000 after purchasing an additional 626 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in Maplebear by 2.2% during the first quarter. Janney Montgomery Scott LLC now owns 29,359 shares of the company's stock worth $1,100,000 after purchasing an additional 626 shares during the period. 63.09% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
CART has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Maplebear from $55.00 to $62.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Wells Fargo & Company increased their price objective on shares of Maplebear from $47.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Wedbush began coverage on Maplebear in a report on Thursday, July 16th. They issued an "outperform" rating and a $59.00 price objective for the company. Wall Street Zen downgraded Maplebear from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Citigroup upped their target price on Maplebear from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $56.14.
Check Out Our Latest Research Report on CART
Maplebear Company Profile
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Get Free Report)
Maplebear Inc, doing business as Instacart, operates an online grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can browse products from participating grocery stores, place orders for delivery or pickup, and receive updates throughout the shopping and fulfillment process.
The company provides retailers with technology and services supporting e-commerce, fulfillment, customer engagement and digital advertising.
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