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

Maplebear Inc. (NASDAQ:CART – Get Free Report) Director Ravi Gupta sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total value of $7,591,500.00. Following the completion of the sale, the director owned 591,523 shares of the company’s stock, valued at approximately $29,936,979.03. This trade represents a 20.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

Get Maplebear alerts:

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

Maplebear Price Performance

Maplebear stock traded down $1.24 during mid-day trading on Friday, reaching $49.83. 3,113,578 shares of the company were exchanged, compared to its average volume of 4,571,765. The firm has a market cap of $11.54 billion, a PE ratio of 27.23, a PEG ratio of 0.75 and a beta of 0.78. The company has a fifty day simple moving average of $46.44 and a 200-day simple moving average of $41.61. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $51.81.

Maplebear (NASDAQ:CART – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. Sell-side analysts anticipate that Maplebear Inc. will post 2.33 earnings per share for the current year.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

CART has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped 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. Wedbush initiated coverage on shares of Maplebear in a research report on Thursday, July 16th. They issued an “outperform” rating and a $59.00 target price for the company. Wells Fargo & Company increased their price target on shares of Maplebear from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a research note on Friday, August 7th. Finally, Cantor Fitzgerald boosted their price objective on shares of Maplebear from $56.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.90.

Get Our Latest Research Report on Maplebear

Maplebear Company Profile

(Get Free Report)

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.

Featured Articles

• Five stocks we like better than Maplebear
• Blueprint for a Boom: SEC Clears the Crypto Runway
• Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss
• Advance Auto Parts Plunged, But Its Turnaround Is Still Working
• Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?

Receive News & Ratings for Maplebear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maplebear and related companies with MarketBeat.com's FREE daily email newsletter.