Lisa Blackwood-Kapral Sells 3,017 Shares of Maplebear (NASDAQ:CART) Stock

Maplebear Inc. (NASDAQ:CART) CAO Lisa Blackwood-Kapral sold 3,017 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $47.08, for a total transaction of $142,040.36. Following the sale, the chief accounting officer owned 37,715 shares of the company’s stock, valued at approximately $1,775,622.20. The trade was a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maplebear Trading Down 0.2%

CART opened at $45.34 on Friday. The company has a market cap of $10.50 billion, a P/E ratio of 24.78, a P/E/G ratio of 0.88 and a beta of 0.80. The business’s 50-day moving average price is $47.92 and its 200-day moving average price is $43.54. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $52.68.

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 company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $0.41 earnings per share. Maplebear’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts forecast that Maplebear Inc. will post 2.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Maplebear

Several institutional investors and hedge funds have recently modified their holdings of CART. Sequoia Financial Advisors LLC bought a new position in Maplebear in the second quarter worth about $333,000. WINTON GROUP Ltd boosted its position in Maplebear by 368.1% during the 2nd quarter. WINTON GROUP Ltd now owns 136,409 shares of the company’s stock valued at $6,459,000 after acquiring an additional 107,271 shares in the last quarter. Engineers Gate Manager LP boosted its position in Maplebear by 13.9% during the 2nd quarter. Engineers Gate Manager LP now owns 53,353 shares of the company’s stock valued at $2,526,000 after acquiring an additional 6,509 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Maplebear during the 2nd quarter worth approximately $70,000. Finally, Nykredit A S purchased a new position in shares of Maplebear during the 2nd quarter worth approximately $330,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CART has been the subject of several recent analyst reports. Needham & Company LLC upped their price objective on shares of Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Rosenblatt Securities started coverage on Maplebear in a research note on Tuesday, September 1st. They issued a “neutral” rating and a $55.00 target price on the stock. Barclays boosted their price target on Maplebear from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Oppenheimer upped their price target on Maplebear from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Finally, Guggenheim increased their price objective on Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Fifteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and an average target price of $56.14.

About Maplebear

Maplebear Inc, doing business as Instacart, operates an online grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can browse products from participating grocery stores, place orders for delivery or pickup, and receive updates throughout the shopping and fulfillment process.

The company provides retailers with technology and services supporting e-commerce, fulfillment, customer engagement and digital advertising.