Maplebear Inc. (NASDAQ:CART) CAO Sells $94,688.58 in Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,247 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the completion of the sale, the chief accounting officer now directly owns 87,735 shares of the company’s stock, valued at approximately $3,697,152.90. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Alan Ramsay also recently made the following trade(s):

• On Wednesday, November 20th, Alan Ramsay sold 2,247 shares of Maplebear stock. The shares were sold at an average price of $41.06, for a total value of $92,261.82.
• On Wednesday, November 20th, Alan Ramsay sold 2,247 shares of Maplebear stock. The shares were sold at an average price of $41.06, for a total value of $92,261.82.
• On Monday, October 21st, Alan Ramsay sold 2,559 shares of Maplebear stock. The shares were sold at an average price of $42.97, for a total value of $109,960.23.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $42.02 on Monday. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $50.01. The stock’s fifty day moving average is $43.70 and its 200 day moving average is $38.24. The stock has a market capitalization of $10.79 billion, a P/E ratio of 28.20, a PEG ratio of 1.08 and a beta of 0.94.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $852.00 million for the quarter, compared to analysts’ expectations of $844.03 million. During the same quarter in the previous year, the business posted ($20.86) earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts forecast that Maplebear Inc. will post 1.4 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. Wilmington Savings Fund Society FSB bought a new position in Maplebear in the third quarter valued at about $33,000. Huntington National Bank bought a new position in Maplebear in the third quarter valued at about $54,000. nVerses Capital LLC boosted its stake in shares of Maplebear by 1,600.0% during 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. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Maplebear during the third quarter valued at about $74,000. Finally, Quarry LP boosted its stake in shares of Maplebear by 269.5% during the second quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CART shares. Raymond James started coverage on Maplebear in a report on Tuesday, September 24th. They set a “market perform” rating for the company. Oppenheimer raised their price target on Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. JMP Securities raised their price target on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Morgan Stanley cut their price target on Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Maplebear in a report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price target for the company. Thirteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.14.

Maplebear Company Profile

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.