Maplebear Inc. (NASDAQ:CART) Insider Sells $490,006.34 in Stock

Maplebear Inc. (NASDAQ:CART - Get Free Report) insider Daniel Danker sold 10,037 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $48.82, for a total value of $490,006.34. Following the completion of the sale, the insider directly owned 470,190 shares in the company, valued at $22,954,675.80. The trade was a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Maplebear Trading Down 2.9%

Maplebear stock traded down $1.43 during mid-day trading on Friday, hitting $48.41. The stock had a trading volume of 3,161,810 shares, compared to its average volume of 2,966,885. The firm has a market capitalization of $12.71 billion, a P/E ratio of 31.85, a P/E/G ratio of 2.04 and a beta of 1.21. The firm's 50 day moving average is $46.41 and its 200 day moving average is $44.51. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $897.00 million during the quarter, compared to analysts' expectations of $896.86 million. Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 EPS. As a group, equities research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on CART shares. Robert W. Baird raised their price objective on shares of Maplebear from $47.00 to $52.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Needham & Company LLC restated a "buy" rating and issued a $56.00 price objective on shares of Maplebear in a report on Friday, May 2nd. Sanford C. Bernstein raised their price objective on shares of Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Wells Fargo & Company lowered their price objective on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Finally, JMP Securities reiterated a "market outperform" rating and set a $55.00 target price on shares of Maplebear in a report on Thursday, June 12th. Eleven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.30.

Institutional Trading of Maplebear

Several hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its position in shares of Maplebear by 62.8% during the 1st quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company's stock valued at $293,919,000 after buying an additional 2,841,559 shares in the last quarter. Altimeter Capital Management LP purchased a new stake in shares of Maplebear during the 4th quarter valued at about $105,108,000. Vanguard Group Inc. raised its position in shares of Maplebear by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock valued at $661,409,000 after buying an additional 2,300,288 shares in the last quarter. Norges Bank purchased a new stake in shares of Maplebear during the 4th quarter valued at about $95,162,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Maplebear by 85.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock valued at $127,650,000 after buying an additional 1,416,426 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, 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.