Maplebear Target of Unusually Large Options Trading (NASDAQ:CART)

Maplebear Inc. (NASDAQ:CART) saw unusually large options trading on Tuesday. Stock investors acquired 21,120 call options on the stock. This is an increase of 296% compared to the average volume of 5,329 call options.

Analyst Ratings Changes

A number of brokerages have commented on CART. Stifel Nicolaus raised their price objective on Maplebear from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Macquarie reissued an “outperform” rating and issued a $44.00 target price on shares of Maplebear in a report on Friday, July 26th. Barclays raised their price target on Maplebear from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Oppenheimer raised their price target on Maplebear from $36.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Finally, Morgan Stanley raised their price target on Maplebear from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.60.

Insiders Place Their Bets

In other Maplebear news, CEO Fidji Simo sold 6,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $31.82, for a total value of $190,920.00. Following the transaction, the chief executive officer now directly owns 1,995,167 shares of the company’s stock, valued at approximately $63,486,213.94. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Fidji Simo sold 6,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $31.82, for a total transaction of $190,920.00. Following the completion of the sale, the chief executive officer now owns 1,995,167 shares in the company, valued at approximately $63,486,213.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 2,550 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $33.21, for a total value of $84,685.50. Following the sale, the chief accounting officer now owns 113,086 shares of the company’s stock, valued at approximately $3,755,586.06. The disclosure for this sale can be found here. Insiders have sold a total of 53,388 shares of company stock valued at $1,795,513 in the last three months. Insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its holdings in Maplebear by 139.3% during the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after acquiring an additional 620 shares in the last quarter. Cantor Fitzgerald L. P. lifted its holdings in Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after acquiring an additional 2,489 shares in the last quarter. nVerses Capital LLC lifted its holdings in Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after acquiring an additional 1,600 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Maplebear in the 4th quarter valued at about $69,000. Finally, Amalgamated Bank acquired a new stake in shares of Maplebear in the 4th quarter valued at about $94,000. 63.09% of the stock is currently owned by institutional investors.

Maplebear Stock Up 1.8 %

Shares of NASDAQ:CART traded up $0.55 during midday trading on Tuesday, hitting $31.66. The company had a trading volume of 4,649,617 shares, compared to its average volume of 4,102,211. Maplebear has a 12 month low of $22.13 and a 12 month high of $42.95. The firm has a fifty day simple moving average of $33.25 and a 200 day simple moving average of $33.00.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.39. The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $794.08 million. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts expect that Maplebear will post 1.02 earnings per share for the current year.

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.