Ravi Gupta Sells 181,000 Shares of Maplebear (NASDAQ:CART) Stock

Maplebear Inc. (NASDAQ:CART) Director Ravi Gupta sold 181,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Maplebear Trading Down 0.5%

CART stock opened at $41.26 on Friday. The company has a market capitalization of $9.70 billion, a P/E ratio of 23.05, a PEG ratio of 0.57 and a beta of 0.88. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50. The business has a 50 day simple moving average of $40.51 and a 200-day simple moving average of $40.23.

Maplebear (NASDAQ:CART) last posted 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 firm 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 earnings per share. Research analysts predict that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Jefferies Financial Group upgraded Maplebear from a “hold” rating to a “buy” rating and upped their price target for the stock from $38.00 to $45.00 in a research note on Monday, March 30th. Wells Fargo & Company upped their price target on Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Argus upgraded Maplebear to a “strong-buy” rating in a research note on Thursday, March 5th. Wall Street Zen cut Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Benchmark cut their price target on Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.09.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. PenderFund Capital Management Ltd. purchased a new position in Maplebear in the fourth quarter worth $27,000. Pinnacle Bancorp Inc. purchased a new position in Maplebear in the first quarter worth $25,000. Hantz Financial Services Inc. raised its position in Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after acquiring an additional 389 shares in the last quarter. Allworth Financial LP raised its position in Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after acquiring an additional 244 shares in the last quarter. Finally, IFP Advisors Inc raised its position in Maplebear by 761.3% in the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after acquiring an additional 845 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Company Profile

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.