Chris Rogers Sells 9,259 Shares of Maplebear (NASDAQ:CART) Stock

Key Points

• Chris Rogers, CEO of Maplebear Inc. (NASDAQ:CART), sold 9,259 shares at an average price of $42.37, totaling $392,303.83, reducing his ownership by 1.24%.
• Maplebear's stock performance recently included a price of $42.45 per share, with a market cap of $11.18 billion and a year-to-date stock range between $35.14 and $53.50.
• Multiple analysts have revised their price targets, with the consensus target now at $55.25, reflecting a "Moderate Buy" rating across the stock.

Maplebear Inc. (NASDAQ:CART - Get Free Report) CEO Chris Rogers sold 9,259 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $42.37, for a total value of $392,303.83. Following the completion of the sale, the chief executive officer owned 739,880 shares of the company's stock, valued at $31,348,715.60. This represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Maplebear Stock Up 0.0%

Shares of NASDAQ CART traded up $0.01 during mid-day trading on Wednesday, reaching $42.45. 3,818,040 shares of the company were exchanged, compared to its average volume of 4,435,925. The firm has a 50-day moving average of $46.22 and a 200 day moving average of $44.26. Maplebear Inc. has a 1 year low of $35.14 and a 1 year high of $53.50. The stock has a market cap of $11.18 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 1.41 and a beta of 1.21.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.Maplebear's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. On average, equities analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CART. BTIG Research reduced their target price on Maplebear from $58.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, September 16th. Robert W. Baird reduced their target price on Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, August 22nd. Morgan Stanley boosted their price objective on Maplebear from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Friday, August 15th. Wedbush restated an "underperform" rating and set a $42.00 price objective (down previously from $55.00) on shares of Maplebear in a research note on Thursday, August 21st. Finally, Stifel Nicolaus lowered their target price on Maplebear from $64.00 to $56.00 and set a "buy" rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.25.

Institutional Trading of Maplebear

Several large investors have recently added to or reduced their stakes in CART. Proathlete Wealth Management LLC bought a new stake in shares of Maplebear during the first quarter valued at approximately $26,000. Brooklyn Investment Group bought a new position in Maplebear in the first quarter valued at $40,000. UMB Bank n.a. grew its position in Maplebear by 914.1% in the first quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after purchasing an additional 905 shares in the last quarter. Spire Wealth Management bought a new position in shares of Maplebear in the 1st quarter valued at about $41,000. Finally, CWM LLC boosted its holdings in shares of Maplebear by 35.1% during the 1st quarter. CWM LLC now owns 1,058 shares of the company's stock worth $42,000 after buying an additional 275 shares during the period. 63.09% of the stock is owned by institutional investors.

About Maplebear

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.

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