Maplebear (NASDAQ:CART) Stock: Insider Emily Reuter Sells 50,000 Shares

Maplebear Inc. (NASDAQ:CART) CFO Emily Reuter sold 50,000 shares of the stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $55.00, for a total transaction of $2,750,000.00. Following the transaction, the chief financial officer owned 599,337 shares of the company’s stock, valued at approximately $32,963,535. This represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maplebear Stock Performance

NASDAQ:CART opened at $56.44 on Monday. The company has a market cap of $13.07 billion, a P/E ratio of 30.84, a P/E/G ratio of 1.10 and a beta of 0.87. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $57.98. The stock’s 50-day simple moving average is $48.20 and its 200 day simple moving average is $45.22.

Maplebear (NASDAQ:CART) last released its earnings results on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business posted $0.41 earnings per share. Maplebear’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts predict that Maplebear Inc. will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CART. Pinnacle Bancorp Inc. bought a new position in shares of Maplebear during the first quarter worth approximately $25,000. NFSG Corp bought a new position in Maplebear during the 3rd quarter worth $26,000. Root Financial Partners LLC acquired a new stake in shares of Maplebear during the third quarter worth $27,000. CX Institutional lifted its holdings in shares of Maplebear by 91.5% during the third quarter. CX Institutional now owns 944 shares of the company’s stock worth $41,000 after buying an additional 451 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in Maplebear by 94.7% during the second quarter. Versant Capital Management Inc now owns 1,215 shares of the company’s stock worth $58,000 after acquiring an additional 591 shares during the period. 63.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on CART. Wall Street Zen lowered Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Wells Fargo & Company lifted their target price on Maplebear from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Monday, October 5th. Weiss Ratings raised Maplebear from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 15th. Oppenheimer boosted their target price on Maplebear from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, Cantor Fitzgerald increased their price target on Maplebear from $56.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and an average price target of $58.24.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, operates a technology-enabled grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can order groceries and other household products for delivery or pickup from participating supermarkets, specialty food stores, convenience retailers and other merchants.

The company also provides retailers with e-commerce, fulfillment and advertising solutions. Its platform supports online storefronts, order management, delivery logistics, customer engagement and data-driven marketing, allowing retail partners to offer digital shopping services and reach consumers through Instacart’s marketplace.

Founded in 2012, Maplebear serves customers across the United States and Canada.