Insider Selling: Maplebear Inc. (NASDAQ:CART) CAO Sells 2,559 Shares of Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,559 shares of Maplebear stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $42.97, for a total transaction of $109,960.23. Following the completion of the sale, the chief accounting officer now owns 96,666 shares in the company, valued at approximately $4,153,738.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, September 20th, Alan Ramsay sold 2,486 shares of Maplebear stock. The shares were sold at an average price of $41.39, for a total transaction of $102,895.54.

Maplebear Price Performance

Shares of CART stock traded down $0.15 during trading hours on Wednesday, hitting $43.83. The company had a trading volume of 1,936,297 shares, compared to its average volume of 3,990,633. The stock has a market capitalization of $11.60 billion and a PE ratio of -2.21. The company’s fifty day moving average is $38.27 and its 200 day moving average is $35.49. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $45.13.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $823.00 million for the quarter, compared to analyst estimates of $806.35 million. The company’s revenue was up 14.9% on a year-over-year basis. Equities analysts forecast that Maplebear Inc. will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On Maplebear

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sculptor Capital LP purchased a new stake in Maplebear during the second quarter worth about $77,361,000. Federated Hermes Inc. grew its holdings in shares of Maplebear by 102.2% in the second quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock valued at $55,739,000 after purchasing an additional 876,439 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Maplebear during the 1st quarter worth approximately $31,109,000. Lord Abbett & CO. LLC acquired a new stake in Maplebear during the 1st quarter worth approximately $28,674,000. Finally, Renaissance Technologies LLC acquired a new stake in Maplebear during the 2nd quarter worth approximately $22,816,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on CART shares. Macquarie boosted their price objective on Maplebear from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Jefferies Financial Group initiated coverage on Maplebear in a research report on Wednesday, October 16th. They set a “hold” rating and a $43.00 price target for the company. Citigroup raised their price objective on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Wedbush increased their target price on shares of Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.10.

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.