Maplebear Inc. (NASDAQ:CART) Short Interest Update

Maplebear Inc. (NASDAQ:CART) saw a significant increase in short interest in September. As of September 30th, there was short interest totalling 15,380,000 shares, an increase of 13.4% from the September 15th total of 13,560,000 shares. Based on an average trading volume of 3,620,000 shares, the short-interest ratio is presently 4.2 days. Currently, 10.2% of the company’s stock are short sold.

Maplebear Stock Down 2.3 %

Shares of NASDAQ CART traded down $1.01 during midday trading on Wednesday, hitting $41.99. The stock had a trading volume of 1,879,306 shares, compared to its average volume of 4,018,461. The stock has a 50 day simple moving average of $37.40 and a 200-day simple moving average of $35.35. The company has a market capitalization of $11.11 billion and a PE ratio of -2.12. Maplebear has a 1 year low of $22.13 and a 1 year high of $45.01.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. The business had revenue of $823.00 million during the quarter, compared to analyst estimates of $806.35 million. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The business’s revenue was up 14.9% compared to the same quarter last year. As a group, analysts expect that Maplebear will post 1.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CART shares. Morgan Stanley lowered their price target on Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Maplebear in a research report on Monday, October 7th. Citigroup raised their price target on shares of Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. BMO Capital Markets upped their price objective on shares of Maplebear from $36.00 to $39.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Finally, Wedbush increased their price objective on shares of Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Maplebear presently has a consensus rating of “Moderate Buy” and an average price target of $43.32.

Insider Buying and Selling at Maplebear

In other news, General Counsel Morgan Fong sold 9,506 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total transaction of $332,900.12. Following the completion of the sale, the general counsel now owns 372,335 shares in the company, valued at approximately $13,039,171.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Maplebear news, CAO Alan Ramsay sold 2,626 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $91,962.52. Following the transaction, the chief accounting officer now owns 107,910 shares in the company, valued at approximately $3,779,008.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 9,506 shares of Maplebear stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total transaction of $332,900.12. Following the sale, the general counsel now owns 372,335 shares of the company’s stock, valued at $13,039,171.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,955 shares of company stock worth $2,480,317 over the last three months. Corporate insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

A number of hedge funds have recently bought and sold shares of the business. nVerses Capital LLC grew its position in shares of Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after purchasing an additional 1,600 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Maplebear in the 4th quarter worth $69,000. Quarry LP raised its holdings in shares of Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after acquiring an additional 2,865 shares during the period. Watts Gwilliam & Co. LLC acquired a new position in shares of Maplebear during the 3rd quarter valued at about $231,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Maplebear during the 1st quarter valued at about $213,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

About Maplebear

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.