Maplebear (NASDAQ:CART) Director Ravi Gupta Sells 181,000 Shares of Stock

Maplebear Inc. (NASDAQ:CART) Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the transaction, the director owned 741,523 shares in the company, valued at $30,780,619.73. This trade represents a 19.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Maplebear Price Performance

Shares of CART opened at $41.48 on Friday. The company has a market capitalization of $9.75 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 0.55 and a beta of 0.88. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50. The company’s fifty day moving average price is $40.41 and its 200 day moving average price is $40.22.

Maplebear (NASDAQ:CART) last announced its earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The business’s revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 EPS. Analysts anticipate that Maplebear Inc. will post 2.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. Jefferies Financial Group upgraded shares of Maplebear from a “hold” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $45.00 in a report on Monday, March 30th. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Barclays boosted their price objective on shares of Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and an average target price of $51.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. PenderFund Capital Management Ltd. bought a new position in shares of Maplebear during the 4th quarter worth about $27,000. Pinnacle Bancorp Inc. bought a new stake in Maplebear in the first quarter valued at about $25,000. Hantz Financial Services Inc. increased its stake in Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after acquiring an additional 389 shares during the period. Allworth Financial LP increased its stake in Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares during the period. Finally, IFP Advisors Inc increased its stake in Maplebear by 761.3% in the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after acquiring an additional 845 shares during the period. Institutional investors own 63.09% of the company’s stock.

About Maplebear

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.