Maplebear Inc. (NASDAQ:CART - Get Free Report) Director Levien Meredith A. Kopit sold 4,225 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $47.45, for a total transaction of $200,476.25. Following the sale, the director now owns 20,829 shares in the company, valued at $988,336.05. The trade was a 16.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Maplebear Trading Down 0.2%
Shares of NASDAQ CART traded down $0.09 during trading hours on Thursday, hitting $44.08. 3,294,371 shares of the company traded hands, compared to its average volume of 4,016,135. The company's 50 day moving average price is $43.50 and its 200 day moving average price is $43.73. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30.
Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The firm had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 EPS. Equities analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.
Hedge Funds Weigh In On Maplebear
Several hedge funds have recently added to or reduced their stakes in CART. Anderson Financial Strategies LLC lifted its stake in Maplebear by 55.8% in the first quarter. Anderson Financial Strategies LLC now owns 1,745 shares of the company's stock worth $70,000 after purchasing an additional 625 shares during the last quarter. Strs Ohio bought a new stake in shares of Maplebear during the 1st quarter worth approximately $1,246,000. McAdam LLC purchased a new position in Maplebear during the 1st quarter valued at $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Maplebear by 60.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,120,740 shares of the company's stock valued at $44,706,000 after acquiring an additional 421,621 shares during the period. Finally, Empowered Funds LLC bought a new position in Maplebear in the 1st quarter valued at $268,000. 63.09% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several analysts recently issued reports on CART shares. Wells Fargo & Company cut their target price on Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. Mizuho cut their price objective on shares of Maplebear from $55.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Citigroup lifted their price objective 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. FBN Securities initiated coverage on shares of Maplebear in a research report on Friday, March 28th. They set a "sector perform" rating and a $44.00 target price for the company. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $55.00 target price on shares of Maplebear in a research note on Thursday. Thirteen investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Maplebear has a consensus rating of "Moderate Buy" and a consensus price target of $51.91.
Check Out Our Latest Analysis on CART
About Maplebear
(
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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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