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

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,314 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 transaction of $92,261.82.
• 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 transaction of $92,261.82.

Maplebear Trading Up 1.9 %

CART stock opened at $45.45 on Friday. Maplebear Inc. has a 1-year low of $23.59 and a 1-year high of $50.01. The business’s 50 day simple moving average is $43.45 and its 200 day simple moving average is $40.04. The firm has a market capitalization of $11.68 billion, a PE ratio of 30.50, a PEG ratio of 1.08 and a beta of 1.04.

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

Wall Street Analyst Weigh In

CART has been the topic of several research reports. Stifel Nicolaus boosted their price objective on shares of Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Piper Sandler boosted their price target on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Bank of America increased their price objective on Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Morgan Stanley boosted their target price on Maplebear from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Finally, Macquarie raised their price target on shares of Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Maplebear presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.96.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Portman Ltd bought a new stake in shares of Maplebear during the third quarter worth approximately $3,196,000. State Street Corp lifted its holdings in Maplebear by 48.3% during the 3rd 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. Cerity Partners LLC acquired a new stake in Maplebear during the 3rd quarter worth approximately $1,442,000. Charles Schwab Investment Management Inc. boosted its stake in Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after purchasing an additional 1,461,501 shares during the period. Finally, Zacks Investment Management acquired a new position in Maplebear in the 3rd quarter valued at $4,853,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

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.