Maplebear (NASDAQ:CART) Shares Down 3.7% – What’s Next?

by · The Markets Daily

Maplebear Inc. (NASDAQ:CART – Get Free Report) shares dropped 3.7% during mid-day trading on Monday . The stock traded as low as $40.70 and last traded at $40.36. Approximately 320,740 shares changed hands during trading, a decline of 92% from the average daily volume of 4,046,233 shares. The stock had previously closed at $41.91.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CART shares. Wedbush cut their price objective on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $55.00 price objective on shares of Maplebear in a research report on Wednesday, February 26th. Seaport Res Ptn upgraded Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Barclays lifted their target price on Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Macquarie boosted their target price on Maplebear from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and an average target price of $50.48.

View Our Latest Stock Report on Maplebear

Maplebear Stock Performance

The stock has a market capitalization of $10.38 billion, a P/E ratio of 26.54, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20. The stock’s fifty day simple moving average is $41.13 and its two-hundred day simple moving average is $43.54.

Maplebear (NASDAQ:CART – Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. As a group, analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the transaction, the chief executive officer now owns 1,654,559 shares of the company’s stock, valued at approximately $66,182,360. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction on Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the transaction, the general counsel now directly owns 484,292 shares of the company’s stock, valued at $20,616,310.44. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,165 shares of company stock valued at $1,541,785 in the last three months. 26.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Maplebear by 16.8% during the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock worth $661,409,000 after purchasing an additional 2,300,288 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Maplebear by 15.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company’s stock worth $196,524,000 after purchasing an additional 635,930 shares in the last quarter. Victory Capital Management Inc. increased its position in Maplebear by 11,501.2% during the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock worth $187,495,000 after purchasing an additional 4,487,654 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Maplebear by 85.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company’s stock valued at $127,650,000 after buying an additional 1,416,426 shares during the period. Finally, Boston Partners purchased a new stake in Maplebear in the 4th quarter valued at about $111,506,000. 63.09% of the stock is owned by institutional investors and hedge funds.

About Maplebear

(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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