Maplebear Inc. (NASDAQ:CART) CAO Sells $107,091.92 in Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,314 shares of Maplebear 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 completion of the transaction, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 stock was 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 stock was 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

Maplebear stock opened at $45.99 on Friday. Maplebear Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $50.01. The firm’s 50 day simple moving average is $43.58 and its 200-day simple moving average is $40.16. The company has a market cap of $11.81 billion, a P/E ratio of 30.87, a price-to-earnings-growth ratio of 1.01 and a beta of 1.04.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.20. The company 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 revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned ($20.86) EPS. On average, analysts expect that Maplebear Inc. will post 1.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Maplebear

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CART. Jefferies Financial Group assumed coverage on shares of Maplebear in a report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft started coverage on Maplebear in a report on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective for the company. Loop Capital lifted their target price on Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Mizuho initiated coverage on Maplebear in a research note on Tuesday, January 14th. They issued an “outperform” rating and a $55.00 price target for the company. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Maplebear presently 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.