Maplebear (NASDAQ:CART) CAO Lisa Blackwood-Kapral Sells 3,017 Shares of Stock

Maplebear Inc. (NASDAQ:CART) CAO Lisa Blackwood-Kapral sold 3,017 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $47.08, for a total value of $142,040.36. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maplebear Stock Down 3.0%

Shares of CART stock traded down $1.42 during mid-day trading on Thursday, hitting $45.43. 4,058,768 shares of the company’s stock were exchanged, compared to its average volume of 4,454,200. The stock has a market cap 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 Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $52.68. The stock has a 50-day simple moving average of $48.04 and a two-hundred day simple moving average of $43.47.

Maplebear (NASDAQ:CART) last released its earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $1.03 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, analysts anticipate that Maplebear Inc. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CART. Guggenheim upped their price objective on shares of Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Wedbush initiated coverage on shares of Maplebear in a research report on Thursday, July 16th. They issued an “outperform” rating and a $59.00 target price on the stock. BNP Paribas Exane upgraded shares of Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 target price for the company in a report on Friday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Maplebear in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and a consensus target price of $56.14.

Institutional Investors Weigh In On Maplebear

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new position in shares of Maplebear in the 2nd quarter worth about $333,000. WINTON GROUP Ltd grew its holdings in shares of Maplebear by 368.1% during the 2nd quarter. WINTON GROUP Ltd now owns 136,409 shares of the company’s stock worth $6,459,000 after purchasing an additional 107,271 shares during the period. Engineers Gate Manager LP grew its holdings in shares of Maplebear by 13.9% during the 2nd quarter. Engineers Gate Manager LP now owns 53,353 shares of the company’s stock worth $2,526,000 after purchasing an additional 6,509 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Maplebear during the 2nd quarter worth about $70,000. Finally, Nykredit A S acquired a new stake in Maplebear during the 2nd quarter worth approximately $330,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Company Profile

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.