Maplebear (NASDAQ:CART) Shares Gap Down – Time to Sell?

Maplebear Inc. (NASDAQ:CART)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $48.34, but opened at $45.37. Maplebear shares last traded at $43.09, with a volume of 710,480 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CART shares. Robert W. Baird lifted their price target on Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday. JMP Securities lifted their price target on Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a report on Wednesday. Piper Sandler boosted their price objective on Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Maplebear in a research note on Monday, October 7th. Finally, Jefferies Financial Group assumed coverage on Maplebear in a research note on Wednesday, October 16th. They issued a “hold” rating and a $43.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Maplebear has an average rating of “Moderate Buy” and a consensus target price of $47.29.

Maplebear Trading Down 0.2 %

The business has a 50-day simple moving average of $41.85 and a 200 day simple moving average of $36.51. The stock has a market cap of $11.20 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 1.50 and a beta of 1.12.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a return on equity of 13.32% and a net margin of 13.37%. The firm had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. During the same quarter in the previous year, the company posted ($20.86) EPS. The business’s revenue was up 11.5% on a year-over-year basis. As a group, equities analysts expect that Maplebear Inc. will post 1.17 earnings per share for the current year.

Insider Activity at Maplebear

In related news, CEO Fidji Simo sold 33,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the sale, the chief executive officer now owns 1,844,778 shares in the company, valued at $65,065,320.06. This represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Morgan Fong sold 8,345 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $333,800.00. Following the sale, the general counsel now owns 330,886 shares in the company, valued at approximately $13,235,440. The trade was a 2.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,710 shares of company stock worth $4,978,164 in the last 90 days. Corporate insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Several institutional investors and hedge funds have recently made changes to their positions in CART. Huntington National Bank acquired a new position in Maplebear during the 3rd quarter worth approximately $54,000. nVerses Capital LLC raised its stake in Maplebear by 1,600.0% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after buying an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Maplebear during the 3rd quarter worth approximately $74,000. Quarry LP raised its stake in Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after buying an additional 2,865 shares during the period. Finally, Vinva Investment Management Ltd acquired a new position in Maplebear during the 3rd quarter worth approximately $212,000. Institutional investors own 63.09% of the company’s stock.

About Maplebear

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.