Ravi Gupta Sells 150,000 Shares of Maplebear (NASDAQ:CART) Stock

Maplebear Inc. (NASDAQ:CART) Director Ravi Gupta sold 150,000 shares of Maplebear stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total value of $7,591,500.00. Following the sale, the director owned 591,523 shares of the company’s stock, valued at approximately $29,936,979.03. This represents a 20.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Ravi Gupta also recently made the following trade(s):

• On Tuesday, June 2nd, Ravi Gupta sold 181,000 shares of Maplebear stock. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00.

Maplebear Price Performance

Shares of NASDAQ CART opened at $49.83 on Friday. The company has a market cap of $11.54 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 0.73 and a beta of 0.78. The company has a 50-day simple moving average of $46.61 and a 200-day simple moving average of $41.66. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $51.81.

Maplebear (NASDAQ:CART) last released 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). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. On average, analysts anticipate that Maplebear Inc. will post 2.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CART shares. Wedbush began coverage on Maplebear in a report on Thursday, July 16th. They issued an “outperform” rating and a $59.00 price objective on the stock. Barclays increased their target price on shares of Maplebear from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Needham & Company LLC lifted their price target on shares of Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Cantor Fitzgerald raised their target price on shares of Maplebear from $56.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.90.

Institutional Investors Weigh In On Maplebear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Maplebear in the 2nd quarter valued at approximately $750,477,000. Viking Global Investors LP bought a new stake in Maplebear in the second quarter valued at $169,782,000. Marshall Wace LLP bought a new position in Maplebear in the 4th quarter worth approximately $126,206,000. Norges Bank bought a new position in shares of Maplebear in the fourth quarter worth $97,221,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Maplebear by 114.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock worth $170,594,000 after purchasing an additional 2,026,567 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Company Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.