Maplebear Inc. (NASDAQ:CART) CAO Sells 2,247 Shares

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,247 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the sale, the chief accounting officer now directly owns 87,735 shares in the company, valued at $3,697,152.90. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 shares were sold at an average price of $41.06, for a total value of $92,261.82.
• On Monday, October 21st, Alan Ramsay sold 2,559 shares of Maplebear stock. The shares were sold at an average price of $42.97, for a total transaction of $109,960.23.

Maplebear Trading Down 0.1 %

NASDAQ:CART traded down $0.05 during trading hours on Friday, hitting $42.02. The stock had a trading volume of 4,655,687 shares, compared to its average volume of 4,008,701. Maplebear Inc. has a 1-year low of $22.13 and a 1-year high of $50.01. The business has a 50 day simple moving average of $43.74 and a two-hundred day simple moving average of $38.11. The company has a market cap of $10.79 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 1.08 and a beta of 0.94.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. During the same quarter last year, the company earned ($20.86) earnings per share. Maplebear’s revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts expect that Maplebear Inc. will post 1.4 EPS for the current fiscal year.

Institutional Trading of Maplebear

A number of hedge funds have recently made changes to their positions in CART. Pacer Advisors Inc. bought a new position in Maplebear during the third quarter worth $158,701,000. Geode Capital Management LLC lifted its stake in Maplebear by 151.7% during the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after purchasing an additional 1,647,081 shares during the last quarter. Maverick Capital Ltd. lifted its stake in Maplebear by 19.7% during the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock worth $109,363,000 after purchasing an additional 441,156 shares during the last quarter. State Street Corp lifted its stake in Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company’s stock worth $103,994,000 after purchasing an additional 831,795 shares during the last quarter. Finally, Southpoint Capital Advisors LP lifted its stake in Maplebear by 56.3% during the third quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock worth $101,850,000 after purchasing an additional 900,000 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CART shares. Jefferies Financial Group started coverage on shares of Maplebear in a report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Raymond James started coverage on shares of Maplebear in a report on Tuesday, September 24th. They issued a “market perform” rating on the stock. Macquarie upped their target price on shares of Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Finally, Bank of America upped their target price on shares of Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Thirteen 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.14.

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.