Maplebear Inc. (NASDAQ:CART) CAO Sells $107,091.92 in Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,314 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the sale, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, December 20th, Alan Ramsay sold 2,247 shares of Maplebear stock. The shares were sold at an average price of $42.14, for a total value of $94,688.58.
• On Wednesday, November 20th, Alan Ramsay sold 2,247 shares of Maplebear stock. The stock was 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 stock was sold at an average price of $41.06, for a total value of $92,261.82.

Maplebear Stock Up 1.9 %

NASDAQ:CART traded up $0.84 during mid-day trading on Thursday, reaching $45.45. 2,591,424 shares of the stock were exchanged, compared to its average volume of 5,514,479. The company has a 50 day simple moving average of $43.45 and a 200-day simple moving average of $40.04. The stock has a market capitalization of $11.68 billion, a P/E ratio of 30.50, a P/E/G ratio of 1.08 and a beta of 1.04. Maplebear Inc. has a 1 year low of $23.59 and a 1 year high of $50.01.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping 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 company had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. During the same period last year, the firm earned ($20.86) EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, research analysts predict that Maplebear Inc. will post 1.4 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on CART shares. BMO Capital Markets boosted their price target on Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. Bank of America boosted their price target on Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Barclays upped their target price on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Piper Sandler upped their target price on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Maplebear in a report on Monday, October 7th. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and an average target price of $48.96.

Institutional Trading of Maplebear

Several hedge funds have recently modified their holdings of CART. American Century Companies Inc. lifted its holdings in shares of Maplebear by 14.6% in the 2nd quarter. American Century Companies Inc. now owns 131,707 shares of the company’s stock valued at $4,233,000 after buying an additional 16,783 shares during the period. Amalgamated Bank lifted its holdings in shares of Maplebear by 545.2% in the 2nd quarter. Amalgamated Bank now owns 9,427 shares of the company’s stock valued at $303,000 after buying an additional 7,966 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in shares of Maplebear in the 2nd quarter valued at approximately $317,000. Canada Pension Plan Investment Board acquired a new stake in shares of Maplebear in the 2nd quarter valued at approximately $7,212,000. Finally, Sei Investments Co. acquired a new position in Maplebear during the second quarter worth $825,000. 63.09% of the stock is owned by institutional investors and hedge funds.

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.