Maplebear Inc. (NASDAQ:CART - Get Free Report) CEO Fidji Simo sold 14,233 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $47.86, for a total transaction of $681,191.38. Following the sale, the chief executive officer directly owned 2,032,005 shares of the company's stock, valued at $97,251,759.30. This represents a 0.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Maplebear Stock Down 1.8%
Shares of NASDAQ CART traded down $0.87 during mid-day trading on Wednesday, reaching $47.80. 4,337,749 shares of the company were exchanged, compared to its average volume of 3,955,780. The company's 50-day simple moving average is $45.71 and its 200-day simple moving average is $44.21. The stock has a market capitalization of $12.55 billion, a P/E ratio of 31.45, a P/E/G ratio of 2.05 and a beta of 1.21. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44.
Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The company had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 EPS. As a group, equities research analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.
Institutional Trading of Maplebear
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Maplebear by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 16,514,830 shares of the company's stock worth $658,777,000 after buying an additional 546,472 shares during the last quarter. Victory Capital Management Inc. raised its stake in Maplebear by 62.8% in the 1st quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company's stock worth $293,919,000 after purchasing an additional 2,841,559 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Maplebear by 10.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,226,979 shares of the company's stock worth $208,505,000 after purchasing an additional 482,327 shares in the last quarter. Altimeter Capital Management LP raised its stake in Maplebear by 31.9% in the 1st quarter. Altimeter Capital Management LP now owns 3,348,128 shares of the company's stock worth $133,557,000 after purchasing an additional 810,510 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Maplebear by 85.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock worth $127,650,000 after purchasing an additional 1,416,426 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on CART. Wall Street Zen downgraded shares of Maplebear from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Citigroup raised their target price on shares of Maplebear from $55.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. JMP Securities reaffirmed a "market outperform" rating and issued a $55.00 target price on shares of Maplebear in a research report on Thursday, June 12th. FBN Securities began coverage on shares of Maplebear in a research report on Friday, March 28th. They issued a "sector perform" rating and a $44.00 target price for the company. Finally, Loop Capital raised their target price on shares of Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Twelve analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Maplebear has a consensus rating of "Moderate Buy" and a consensus target price of $51.91.
Read Our Latest Stock Analysis on CART
About Maplebear
(
Get Free Report)
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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