Insider Selling: Maplebear (NASDAQ:CART) CAO Sells $142,040.36 in Stock

Key Points

• Maplebear CAO Lisa Blackwood-Kapral sold 3,017 shares for approximately $142,040 at an average price of $47.08. The Rule 10b5-1 transaction reduced her holdings by 7.41% to 37,715 shares.
• Maplebear shares fell 3.0% to $45.43, while the company’s latest quarterly revenue rose 14.1% year over year to $1.04 billion. However, earnings of $0.45 per share missed analysts’ $0.54 consensus estimate.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $56.14; 63.09% of the stock is owned by institutional investors.

Maplebear Inc. (NASDAQ:CART - Get Free Report) CAO Lisa Blackwood-Kapral sold 3,017 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 37,715 shares in the company, valued at approximately $1,775,622.20. This represents a 7.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maplebear Stock Down 3.0%

NASDAQ CART traded down $1.42 during mid-day trading on Thursday, hitting $45.43. The stock had a trading volume of 4,058,768 shares, compared to its average volume of 4,454,200. The company has a 50 day simple moving average of $48.04 and a 200 day simple moving average of $43.47. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 0.91 and a beta of 0.80. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $52.68.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.09). Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, equities analysts anticipate that Maplebear Inc. will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new stake in shares of Maplebear during the first quarter worth about $25,000. IFP Advisors Inc raised its position in shares of Maplebear by 761.3% in the fourth quarter. IFP Advisors Inc now owns 956 shares of the company's stock valued at $43,000 after buying an additional 845 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Maplebear by 94.7% during the second quarter. Versant Capital Management Inc now owns 1,215 shares of the company's stock valued at $58,000 after buying an additional 591 shares during the period. Allworth Financial LP purchased a new position in shares of Maplebear during the second quarter valued at approximately $62,000. Finally, Global Retirement Partners LLC acquired a new stake in Maplebear during the second quarter worth approximately $67,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on CART shares. Needham & Company LLC increased their price objective on shares of Maplebear from $55.00 to $63.00 and gave the company a "buy" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of Maplebear from $55.00 to $62.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Wall Street Zen downgraded Maplebear from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Citigroup upped their target price on Maplebear from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Finally, Wells Fargo & Company increased their target price on Maplebear from $47.00 to $54.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.14.

About Maplebear

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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