Maplebear Inc. (NASDAQ:CART) CAO Sells $102,895.54 in Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,486 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $41.39, for a total value of $102,895.54. Following the sale, the chief accounting officer now owns 99,225 shares in the company, valued at approximately $4,106,922.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, July 22nd, Alan Ramsay sold 2,626 shares of Maplebear stock. The stock was sold at an average price of $35.02, for a total transaction of $91,962.52.

Maplebear Price Performance

Shares of NASDAQ CART opened at $39.46 on Friday. The business’s 50-day simple moving average is $35.12 and its 200-day simple moving average is $34.87. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $42.58.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $823.00 million during the quarter, compared to analysts’ expectations of $806.35 million. The business’s revenue was up 14.9% compared to the same quarter last year. Equities analysts forecast that Maplebear Inc. will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Maplebear in the fourth quarter worth about $78,674,000. Vanguard Group Inc. increased its position in Maplebear by 239.1% in the 1st quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock worth $7,961,000 after buying an additional 150,544 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Maplebear in the second quarter valued at approximately $8,293,000. Investment House LLC bought a new stake in shares of Maplebear in the second quarter valued at approximately $750,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Maplebear in the first quarter worth $1,673,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

CART has been the subject of a number of recent analyst reports. Wedbush raised their price objective on shares of Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. Morgan Stanley dropped their price target on Maplebear from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Tuesday. BMO Capital Markets raised their price objective on Maplebear from $36.00 to $39.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Finally, Wolfe Research initiated coverage on Maplebear in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and an average price target of $43.33.

Maplebear Company Profile

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.