Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay Sells 2,314 Shares

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,314 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Friday, December 20th, Alan Ramsay sold 2,247 shares of Maplebear stock. The shares were sold at an average price of $42.14, for a total value of $94,688.58.
• 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 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.

Maplebear Price Performance

NASDAQ CART traded up $0.84 during trading on Thursday, hitting $45.45. The company’s stock had a trading volume of 2,591,424 shares, compared to its average volume of 5,514,479. The company has a market cap of $11.68 billion, a PE ratio of 30.50, a P/E/G ratio of 1.08 and a beta of 1.04. The business’s 50 day simple moving average is $43.45 and its 200-day simple moving average is $40.04. Maplebear Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $50.01.

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

Institutional Investors Weigh In On Maplebear

Several institutional investors have recently added to or reduced their stakes in CART. Wilmington Savings Fund Society FSB acquired a new stake in Maplebear in the third quarter worth about $33,000. Huntington National Bank acquired a new stake in shares of Maplebear during the third quarter worth about $54,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Maplebear during the third quarter worth about $74,000. Quarry LP lifted its holdings in shares of Maplebear by 269.5% during the second quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after purchasing an additional 2,865 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Maplebear by 56.5% during the fourth quarter. KBC Group NV now owns 3,808 shares of the company’s stock worth $158,000 after purchasing an additional 1,374 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CART. Barclays raised their price target on Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Loop Capital raised their price target on Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Stifel Nicolaus raised their price target on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Maplebear in a research report on Monday, October 7th. Finally, BTIG Research upgraded Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Tuesday, January 14th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.96.

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.