Maplebear (NASDAQ:CART) Stock Price Down 3.3% Following Insider Selling

Maplebear Inc. (NASDAQ:CART)’s share price traded down 3.3% on Thursday after an insider sold shares in the company. The company traded as low as $45.05 and last traded at $45.29. 533,715 shares were traded during trading, a decline of 88% from the average daily 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 company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $47.08, for a total value of $142,040.36. Following the sale, the chief accounting officer owned 37,715 shares of the company’s stock, 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 research firms recently commented on CART. Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a report on Friday, August 7th. Needham & Company LLC raised their target price on Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, August 7th. BNP Paribas Exane upgraded Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 target price for the company in a research report on Friday, August 7th. Rosenblatt Securities initiated coverage on Maplebear in a research note on Tuesday, September 1st. They issued a “neutral” rating and a $55.00 price target for the company. Finally, Wells Fargo & Company increased their price target on shares of Maplebear from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and an average target price of $56.14.

Maplebear Stock Performance

The firm’s fifty day moving average is $47.92 and its 200-day moving average is $43.54. The company has a market capitalization of $10.50 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 0.88 and a beta of 0.80.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data 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 business 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%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, analysts expect that Maplebear Inc. will post 2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Maplebear Company Profile

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.