Maplebear Inc. (NASDAQ:CART) CAO Sells $91,962.52 in Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,626 shares of Maplebear stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $91,962.52. Following the completion of the sale, the chief accounting officer now owns 107,910 shares of the company’s stock, valued at $3,779,008.20. 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 Thursday, June 20th, Alan Ramsay sold 2,550 shares of Maplebear stock. The stock was sold at an average price of $33.86, for a total transaction of $86,343.00.
• On Monday, May 20th, Alan Ramsay sold 2,550 shares of Maplebear stock. The shares were sold at an average price of $33.21, for a total transaction of $84,685.50.
• On Wednesday, May 1st, Alan Ramsay sold 12,178 shares of Maplebear stock. The shares were sold at an average price of $34.90, for a total transaction of $425,012.20.

Maplebear Stock Up 0.7 %

CART opened at $34.32 on Friday. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $42.95. The company has a 50 day moving average of $33.18 and a 200 day moving average of $32.49.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.39. The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $794.08 million. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts forecast that Maplebear Inc. will post 1.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CART shares. Oppenheimer boosted their target price on Maplebear from $36.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Robert W. Baird upped their target price on Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. BMO Capital Markets lifted their price target on shares of Maplebear from $26.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, May 9th. Loop Capital upped their price objective on shares of Maplebear from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Finally, JMP Securities lifted their price objective on shares of Maplebear from $35.00 to $42.00 and gave the company a “market outperform” rating in a report on Thursday, May 9th. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Maplebear has an average rating of “Moderate Buy” and an average target price of $41.60.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Atomi Financial Group Inc. purchased a new stake in shares of Maplebear in the second quarter worth about $637,000. State of Michigan Retirement System bought a new stake in Maplebear during the 2nd quarter worth approximately $484,000. Bank of New York Mellon Corp lifted its stake in Maplebear by 936.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 489,761 shares of the company’s stock worth $15,741,000 after purchasing an additional 442,517 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in Maplebear in the 2nd quarter valued at $704,000. Finally, Investment House LLC purchased a new position in shares of Maplebear during the 2nd quarter valued at $750,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

About Maplebear

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.