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Maplebear Inc. (NASDAQ:CART - Get Free Report) General Counsel Morgan Fong sold 5,249 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares of the company's stock, valued at $20,616,310.44. This represents a 1.07 % 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 link.
Maplebear Stock Down 0.8 %
Shares of NASDAQ:CART opened at $42.01 on Thursday. The company has a 50 day moving average of $41.48 and a two-hundred day moving average of $43.55. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20.
Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.16. The firm had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. On average, equities analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on CART. JMP Securities reiterated a "market outperform" rating and issued a $55.00 price objective on shares of Maplebear in a research note on Friday, April 11th. Mizuho reduced their price target on shares of Maplebear from $55.00 to $52.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. FBN Securities began coverage on Maplebear in a report on Friday, March 28th. They issued a "sector perform" rating and a $44.00 price target on the stock. BMO Capital Markets lifted their price objective on Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Finally, Benchmark reiterated a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Twelve investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.48.
Read Our Latest Analysis on Maplebear
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. Proathlete Wealth Management LLC acquired a new stake in Maplebear during the 1st quarter valued at approximately $26,000. Jones Financial Companies Lllp boosted its stake in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after buying an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Maplebear during the third quarter worth approximately $33,000. Allworth Financial LP grew its position in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after buying an additional 420 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after buying an additional 717 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company's stock.
About Maplebear
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Get Free Report)
Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.
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