Maplebear (NASDAQ:CART) Trading Down 3.3% on Insider Selling

Maplebear Inc. (NASDAQ:CART) shares fell 3.3% during trading on Thursday following insider selling activity. The company traded as low as $45.05 and last traded at $45.29. Approximately 533,715 shares traded hands during trading, a decline of 88% from the average session volume of 4,431,799 shares. The stock had previously closed at $46.85.

Specifically, CAO Lisa Blackwood-Kapral sold 3,017 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $47.08, for a total transaction of $142,040.36. Following the completion of the sale, the chief accounting officer owned 37,715 shares in the company, valued at $1,775,622.20. The trade was a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citizens Jmp reiterated a “market outperform” rating and issued a $60.00 target price on shares of Maplebear in a report on Monday, June 15th. Guggenheim raised their price objective on shares of Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Wedbush started coverage on shares of Maplebear in a report on Thursday, July 16th. They set an “outperform” rating and a $59.00 price objective for the company. Argus boosted their target price on shares of Maplebear from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Maplebear from $55.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.14.

Maplebear Trading Down 0.2%

The stock has a market capitalization of $10.50 billion, a PE ratio of 24.78, a P/E/G ratio of 0.88 and a beta of 0.80. The stock’s fifty day simple moving average is $47.92 and its 200-day simple moving average is $43.54.

Maplebear (NASDAQ:CART) last announced its earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company earned $0.41 EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, analysts anticipate 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 added to or reduced their stakes in the company. Sequoia Financial Advisors LLC bought a new position in shares of Maplebear in the second quarter valued at approximately $333,000. WINTON GROUP Ltd lifted its holdings in Maplebear by 368.1% during the second quarter. WINTON GROUP Ltd now owns 136,409 shares of the company’s stock worth $6,459,000 after acquiring an additional 107,271 shares during the period. Engineers Gate Manager LP lifted its holdings in Maplebear by 13.9% during the second quarter. Engineers Gate Manager LP now owns 53,353 shares of the company’s stock worth $2,526,000 after acquiring an additional 6,509 shares during the period. Integrated Wealth Concepts LLC bought a new position in Maplebear in the 2nd quarter valued at $70,000. Finally, Nykredit A S bought a new position in Maplebear in the 2nd quarter valued at $330,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

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.