Levien Meredith A. Kopit Sells 4,225 Shares of Maplebear Inc. (NASDAQ:CART) Stock

Maplebear Inc. (NASDAQ:CART - Get Free Report) Director Levien Meredith A. Kopit sold 4,225 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $47.45, for a total value of $200,476.25. Following the completion of the transaction, the director now directly owns 20,829 shares of the company's stock, valued at approximately $988,336.05. This trade represents a 16.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Maplebear Stock Performance

CART stock traded up $0.25 during midday trading on Monday, reaching $45.92. 2,871,526 shares of the company traded hands, compared to its average volume of 4,019,311. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The business has a 50 day moving average of $43.17 and a 200-day moving average of $43.71. The firm has a market capitalization of $12.05 billion, a price-to-earnings ratio of 30.82, a P/E/G ratio of 1.19 and a beta of 1.30.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data 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). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $897.00 million for the quarter, compared to analysts' expectations of $896.86 million. During the same quarter last year, the company earned $0.43 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CART has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Macquarie reaffirmed an "outperform" rating and issued a $55.00 price objective on shares of Maplebear in a research note on Tuesday, May 6th. Oppenheimer dropped their price objective on Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Wedbush dropped their price objective on Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Finally, Mizuho dropped their price objective on Maplebear from $55.00 to $52.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Thirteen research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Maplebear currently has an average rating of "Moderate Buy" and a consensus target price of $51.91.

Institutional Investors Weigh In On Maplebear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Proathlete Wealth Management LLC purchased a new stake in shares of Maplebear in the first quarter worth approximately $26,000. Jones Financial Companies Lllp raised its holdings in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after buying an additional 222 shares during the period. Allworth Financial LP raised its holdings in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after buying an additional 420 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after buying an additional 717 shares during the period. Finally, UMB Bank n.a. raised its holdings in shares of Maplebear by 914.1% in the first quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock worth $40,000 after buying an additional 905 shares during the period. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

About Maplebear

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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