Alan Ramsay Sells 2,559 Shares of Maplebear Inc. (NASDAQ:CART) Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,559 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $42.97, for a total value of $109,960.23. Following the completion of the sale, the chief accounting officer now directly owns 96,666 shares in the company, valued at approximately $4,153,738.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $102,895.54.

Maplebear Trading Up 1.7 %

Shares of NASDAQ:CART opened at $44.54 on Friday. The company has a 50-day moving average price of $38.74 and a 200-day moving average price of $35.60. The company has a market cap of $11.79 billion and a price-to-earnings ratio of -2.25. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $45.13.

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

Hedge Funds Weigh In On Maplebear

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Maplebear by 239.1% during the 1st quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock valued at $7,961,000 after purchasing an additional 150,544 shares during the period. Assenagon Asset Management S.A. bought a new position in Maplebear in the second quarter worth about $8,293,000. Investment House LLC purchased a new stake in Maplebear in the second quarter worth about $750,000. GSA Capital Partners LLP bought a new stake in Maplebear during the 1st quarter valued at approximately $1,673,000. Finally, Diversified Trust Co grew its holdings in shares of Maplebear by 141.8% during the 3rd quarter. Diversified Trust Co now owns 24,563 shares of the company’s stock worth $1,001,000 after acquiring an additional 14,404 shares during the period. Institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CART. Morgan Stanley cut their price target on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 24th. Bank of America increased their target price on Maplebear from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Benchmark reiterated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Finally, Raymond James started coverage on Maplebear in a research note on Tuesday, September 24th. They issued a “market perform” rating for the company. Twelve equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and an average target price of $43.10.

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.