Insider Selling: Maplebear Inc. (NASDAQ:CART) CAO Sells 2,559 Shares of Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,559 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $42.97, for a total value of $109,960.23. Following the sale, the chief accounting officer now owns 96,666 shares in the company, valued at approximately $4,153,738.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, September 20th, Alan Ramsay sold 2,486 shares of Maplebear stock. The shares were sold at an average price of $41.39, for a total value of $102,895.54.

Maplebear Price Performance

Shares of CART stock traded down $0.15 during midday trading on Wednesday, hitting $43.83. The company had a trading volume of 1,936,297 shares, compared to its average volume of 3,990,633. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $45.13. The company’s 50 day simple moving average is $38.27 and its 200 day simple moving average is $35.49. The stock has a market cap of $11.60 billion and a price-to-earnings ratio of -2.21.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. The firm had revenue of $823.00 million for 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%. Maplebear’s revenue for the quarter was up 14.9% on a year-over-year basis. Analysts anticipate that Maplebear Inc. will post 1.14 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Lecap Asset Management Ltd. lifted its holdings in shares of Maplebear by 65.3% in the 3rd quarter. Lecap Asset Management Ltd. now owns 36,237 shares of the company’s stock valued at $1,476,000 after buying an additional 14,318 shares during the period. Renaissance Capital LLC raised its position in Maplebear by 20.0% in the third quarter. Renaissance Capital LLC now owns 185,593 shares of the company’s stock worth $7,561,000 after acquiring an additional 30,989 shares in the last quarter. Creative Planning lifted its holdings in Maplebear by 1,141.9% in the third quarter. Creative Planning now owns 118,802 shares of the company’s stock valued at $4,840,000 after acquiring an additional 109,236 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Maplebear by 3.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 64,943 shares of the company’s stock worth $2,646,000 after purchasing an additional 1,993 shares in the last quarter. Finally, Paragon Capital Management Ltd grew its stake in shares of Maplebear by 50.0% during the 3rd quarter. Paragon Capital Management Ltd now owns 9,555 shares of the company’s stock worth $389,000 after purchasing an additional 3,185 shares during the period. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CART. Piper Sandler raised their target price on shares of Maplebear from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. BMO Capital Markets raised 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. Raymond James began coverage on shares of Maplebear in a research report on Tuesday, September 24th. They set a “market perform” rating for the company. Wolfe Research initiated coverage on Maplebear in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Morgan Stanley decreased 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. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.10.

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.