Maplebear (NASDAQ:CART) Stock: Insider Chris Rogers Sells 24,060 Shares

Key Points

• CEO Chris Rogers sold 24,060 Maplebear shares at an average price of $55.04, generating approximately $1.32 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 892,576 shares.
• Maplebear’s stock opened at $56.44, near its one-year high of $57.98, with a $13.07 billion market capitalization. The company’s latest quarterly revenue rose 14.1% year over year to $1.04 billion, though earnings of $0.45 per share missed analysts’ $0.54 estimate.
• Analyst sentiment remains positive, with 14 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $58.24. Institutional investors own approximately 63.09% of the company.

Maplebear Inc. (NASDAQ:CART - Get Free Report) CEO Chris Rogers sold 24,060 shares of the company's stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $55.04, for a total value of $1,324,262.40. Following the completion of the transaction, the chief executive officer directly owned 892,576 shares of the company's stock, valued at approximately $49,127,383.04. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maplebear Stock Performance

CART stock opened at $56.44 on Monday. The company's fifty day moving average price is $48.20 and its 200-day moving average price is $45.22. Maplebear Inc. has a one year low of $32.73 and a one year high of $57.98. The company has a market capitalization of $13.07 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 1.10 and a beta of 0.87.

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

Analyst Ratings Changes

A number of brokerages have commented on CART. Benchmark lifted their price objective on shares of Maplebear from $55.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Maplebear from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 15th. Cantor Fitzgerald increased their price target on shares of Maplebear from $56.00 to $63.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Oppenheimer lifted their price target on Maplebear from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company boosted their price objective on Maplebear from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Monday, October 5th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.24.

Institutional Trading of Maplebear

Several institutional investors have recently bought and sold shares of the business. Signaturefd LLC lifted its holdings in Maplebear by 73.6% in the 3rd quarter. Signaturefd LLC now owns 2,661 shares of the company's stock valued at $115,000 after purchasing an additional 1,128 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of Maplebear during the third quarter worth $346,000. Fifth Third Wealth Advisors LLC raised its position in shares of Maplebear by 5.1% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,363 shares of the company's stock valued at $231,000 after buying an additional 260 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Maplebear in the third quarter valued at about $27,000. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of Maplebear by 1,497.9% in the third quarter. Crossmark Global Holdings Inc. now owns 100,379 shares of the company's stock worth $4,328,000 after buying an additional 94,097 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, operates a technology-enabled grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can order groceries and other household products for delivery or pickup from participating supermarkets, specialty food stores, convenience retailers and other merchants.

The company also provides retailers with e-commerce, fulfillment and advertising solutions. Its platform supports online storefronts, order management, delivery logistics, customer engagement and data-driven marketing, allowing retail partners to offer digital shopping services and reach consumers through Instacart's marketplace.

Founded in 2012, Maplebear serves customers across the United States and Canada.

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