Chris Rogers Sells 9,259 Shares of Maplebear (NASDAQ:CART) Stock

Maplebear Inc. (NASDAQ:CART) CEO Chris Rogers sold 9,259 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $42.37, for a total value of $392,303.83. Following the completion of the sale, the chief executive officer directly owned 739,880 shares in the company, valued at approximately $31,348,715.60. This represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Maplebear Stock Performance

NASDAQ CART opened at $42.41 on Friday. The stock has a 50-day simple moving average of $45.99 and a 200 day simple moving average of $44.28. Maplebear Inc. has a twelve month low of $35.14 and a twelve month high of $53.50. The stock has a market capitalization of $11.17 billion, a PE ratio of 24.51, a P/E/G ratio of 1.42 and a beta of 1.21.

Maplebear (NASDAQ:CART) last released its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. As a group, equities research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp boosted its holdings in Maplebear by 7.6% during the second quarter. Texas Permanent School Fund Corp now owns 106,669 shares of the company’s stock valued at $4,826,000 after purchasing an additional 7,578 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Maplebear by 485.0% during the 2nd quarter. Osaic Holdings Inc. now owns 96,871 shares of the company’s stock worth $4,382,000 after buying an additional 80,312 shares during the period. Thrivent Financial for Lutherans boosted its stake in Maplebear by 1.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 44,641 shares of the company’s stock valued at $2,020,000 after buying an additional 730 shares in the last quarter. Stance Capital LLC bought a new stake in Maplebear in the second quarter valued at $1,342,000. Finally, State of Wyoming raised its stake in Maplebear by 5.5% during the second quarter. State of Wyoming now owns 10,059 shares of the company’s stock worth $455,000 after acquiring an additional 525 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CART shares. Jefferies Financial Group boosted their target price on shares of Maplebear from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, August 11th. Barclays raised their price target on shares of Maplebear from $61.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Morgan Stanley upped their price objective on shares of Maplebear from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Friday, August 15th. Robert W. Baird decreased their target price on Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, August 22nd. Finally, Benchmark upgraded Maplebear from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.25.

Maplebear Company Profile

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.