Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay Sells 2,486 Shares

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $41.39, for a total transaction of $102,895.54. Following the completion of the transaction, the chief accounting officer now directly owns 99,225 shares in the company, valued at approximately $4,106,922.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

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

Maplebear Price Performance

Shares of Maplebear stock opened at $40.50 on Thursday. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $42.58. The firm has a 50-day moving average of $34.93 and a 200-day moving average of $34.80.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The business had revenue of $823.00 million during the quarter, compared to analysts’ expectations of $806.35 million. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts forecast that Maplebear Inc. will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in Maplebear during the fourth quarter worth about $78,674,000. Sculptor Capital LP acquired a new position in Maplebear during the second quarter worth about $77,361,000. Federated Hermes Inc. raised its stake in Maplebear by 102.2% during the second quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock worth $55,739,000 after acquiring an additional 876,439 shares in the last quarter. Industry Ventures L.L.C. raised its stake in Maplebear by 3.3% during the second quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock worth $31,512,000 after acquiring an additional 31,175 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Maplebear in the first quarter valued at approximately $31,109,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CART. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Citigroup lifted their price objective on shares of Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, August 8th. KeyCorp assumed coverage on shares of Maplebear in a report on Thursday, July 11th. They set a “sector weight” rating on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Maplebear in a report on Monday. Finally, BMO Capital Markets boosted their target price on shares of Maplebear from $36.00 to $39.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.