Maplebear (NASDAQ:CART) Director Ravi Gupta Sells 150,000 Shares of Stock

Maplebear Inc. (NASDAQ:CART) Director Ravi Gupta sold 150,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the transaction, the director directly owned 591,523 shares of the company’s stock, valued at $29,936,979.03. This represents a 20.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 transaction of $7,513,310.00.

Maplebear Stock Performance

NASDAQ:CART opened at $49.83 on Friday. The company has a 50-day moving average of $46.61 and a 200-day moving average of $41.66. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $51.81. The company has a market capitalization of $11.54 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 0.75 and a beta of 0.78.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business earned $0.41 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts forecast that Maplebear Inc. will post 2.33 EPS for the current year.

Institutional Trading of Maplebear

Several institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE grew its position in shares of Maplebear by 17.0% during the 4th quarter. US Bancorp DE now owns 437,658 shares of the company’s stock worth $19,686,000 after buying an additional 63,666 shares during the period. Ruffer LLP bought a new position in Maplebear during the 4th quarter worth approximately $2,567,000. Bank of America Corp DE increased its stake in Maplebear by 16.5% in the first quarter. Bank of America Corp DE now owns 1,562,097 shares of the company’s stock valued at $58,516,000 after purchasing an additional 221,036 shares in the last quarter. CWM LLC raised its holdings in Maplebear by 1,741.4% in the fourth quarter. CWM LLC now owns 30,088 shares of the company’s stock worth $1,353,000 after purchasing an additional 28,454 shares during the period. Finally, Horizon Investments LLC boosted its position in shares of Maplebear by 263,556.8% during the fourth quarter. Horizon Investments LLC now owns 116,009 shares of the company’s stock worth $5,218,000 after purchasing an additional 115,965 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CART. Guggenheim lifted their price target on shares of Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Benchmark raised their target price on Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Needham & Company LLC lifted their price target on Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Barclays raised their price objective on shares of Maplebear from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.90.

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.