Alan Ramsay Sells 2,247 Shares of Maplebear Inc. (NASDAQ:CART) Stock

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

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

Maplebear Price Performance

NASDAQ:CART opened at $42.02 on Friday. The firm has a market capitalization of $10.79 billion, a P/E ratio of 28.20, a PEG ratio of 1.08 and a beta of 0.94. Maplebear Inc. has a one year low of $22.13 and a one year high of $50.01. The company’s 50-day simple moving average is $43.70 and its 200 day simple moving average is $38.24.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $852.00 million for the quarter, compared to analysts’ expectations of $844.03 million. During the same period in the previous year, the firm posted ($20.86) EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities research analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

CART has been the topic of several analyst reports. Bank of America lifted 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. JMP Securities boosted their price objective on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. 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. Oppenheimer upped their price target on shares of Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus raised their price target on shares of Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Thirteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.14.

Institutional Investors Weigh In On Maplebear

A number of institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. bought a new position in Maplebear in the 3rd quarter worth about $158,701,000. Geode Capital Management LLC lifted its stake in shares of Maplebear by 151.7% in the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after buying an additional 1,647,081 shares in the last quarter. Maverick Capital Ltd. grew its holdings in shares of Maplebear by 19.7% during the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock valued at $109,363,000 after buying an additional 441,156 shares during the last quarter. State Street Corp increased its position in shares of Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company’s stock valued at $103,994,000 after acquiring an additional 831,795 shares in the last quarter. Finally, Southpoint Capital Advisors LP raised its holdings in Maplebear by 56.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock worth $101,850,000 after acquiring an additional 900,000 shares during the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

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.