Insider Selling: Maplebear (NASDAQ:CART) Director Sells $7,591,500.00 in Stock

Key Points

• Director Ravi Gupta sold 150,000 Maplebear shares at an average price of $50.61, generating $7.59 million and reducing his position by 20.23% to 591,523 shares.
• Maplebear shares recently traded at $49.83, near their 12-month high of $51.81. The company reported quarterly revenue of $1.04 billion, up 14.1% year over year, but earnings per share of $0.45 fell short of the $0.54 consensus estimate.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $55.90 target price, although one research firm downgraded the stock to “hold.” Institutional investors own 63.09% of the company.

Maplebear Inc. (NASDAQ:CART - Get Free Report) Director Ravi Gupta sold 150,000 shares of the firm's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total value of $7,591,500.00. Following the completion of the transaction, the director owned 591,523 shares of the company's stock, valued at $29,936,979.03. The trade was a 20.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ravi Gupta also recently made the following trade(s):

• On Tuesday, June 2nd, Ravi Gupta sold 181,000 shares of Maplebear stock. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00.

Maplebear Stock Performance

NASDAQ CART traded down $1.24 during trading hours on Friday, hitting $49.83. 3,113,578 shares of the company traded hands, compared to its average volume of 4,571,765. The business's 50-day moving average is $46.44 and its 200-day moving average is $41.61. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $51.81. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 0.75 and a beta of 0.78.

Maplebear (NASDAQ:CART - Get Free Report) last posted 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). Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the firm earned $0.41 EPS. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts predict that Maplebear Inc. will post 2.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Maplebear from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Needham & Company LLC boosted their price target on Maplebear from $55.00 to $63.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of Maplebear in a research note on Friday, August 7th. Cantor Fitzgerald raised their price objective on Maplebear from $56.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Citigroup lifted their target price on Maplebear from $50.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given 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 $55.90.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. PenderFund Capital Management Ltd. bought a new stake in shares of Maplebear in the fourth quarter valued at about $27,000. Pinnacle Bancorp Inc. bought a new position in Maplebear during the first quarter worth about $25,000. Allworth Financial LP raised its stake in Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company's stock worth $34,000 after purchasing an additional 244 shares in the last quarter. IFP Advisors Inc raised its stake in Maplebear by 761.3% in the 4th quarter. IFP Advisors Inc now owns 956 shares of the company's stock worth $43,000 after purchasing an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock valued at $43,000 after purchasing an additional 787 shares during the period. Institutional investors own 63.09% of the company's stock.

Maplebear Company Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers' existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.

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