Maplebear (NASDAQ:CART) CFO Sells 50,000 Shares of Company Stock

Maplebear Inc. (NASDAQ:CART) CFO Emily Reuter sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $55.00, for a total value of $2,750,000.00. Following the sale, the chief financial officer owned 599,337 shares of the company’s stock, valued at approximately $32,963,535. This represents a 7.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maplebear Stock Performance

Maplebear stock opened at $56.44 on Monday. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $57.98. The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 1.10 and a beta of 0.87. The firm’s fifty day moving average price is $48.20 and its two-hundred day moving average price is $45.22.

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

Hedge Funds Weigh In On Maplebear

Several large investors have recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in Maplebear by 73.6% in the 3rd quarter. Signaturefd LLC now owns 2,661 shares of the company’s stock worth $115,000 after buying an additional 1,128 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in shares of Maplebear during the 3rd quarter valued at approximately $346,000. Fifth Third Wealth Advisors LLC lifted its position in Maplebear by 5.1% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,363 shares of the company’s stock worth $231,000 after buying an additional 260 shares during the last quarter. Root Financial Partners LLC purchased a new position in Maplebear during the third quarter worth $27,000. Finally, Crossmark Global Holdings Inc. increased its position in Maplebear by 1,497.9% during the third quarter. Crossmark Global Holdings Inc. now owns 100,379 shares of the company’s stock valued at $4,328,000 after acquiring an additional 94,097 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Argus lifted their target price on Maplebear from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Guggenheim raised their target price on Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Needham & Company LLC boosted their price target on shares of Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Maplebear from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 15th. Finally, Barclays raised their price target on Maplebear from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.24.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, operates a technology-enabled grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can order groceries and other household products for delivery or pickup from participating supermarkets, specialty food stores, convenience retailers and other merchants.

The company also provides retailers with e-commerce, fulfillment and advertising solutions. Its platform supports online storefronts, order management, delivery logistics, customer engagement and data-driven marketing, allowing retail partners to offer digital shopping services and reach consumers through Instacart’s marketplace.

Founded in 2012, Maplebear serves customers across the United States and Canada.