Maplebear Inc. (NASDAQ:CART) CAO Sells $94,688.58 in Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction 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. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 value 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 value of $109,960.23.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $42.02 on Friday. The firm has a market capitalization of $10.79 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 1.08 and a beta of 0.94. The business has a 50 day simple moving average of $43.70 and a two-hundred day simple moving average of $38.24. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $50.01.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping 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 firm’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($20.86) EPS. Equities research analysts expect that Maplebear Inc. will post 1.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Maplebear in a research report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 target price on the stock. JMP Securities raised their price objective on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on shares of Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Bank of America lifted their price target on shares of Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, BMO Capital Markets upped their price objective on Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Thirteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.14.

Institutional Trading of Maplebear

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in Maplebear by 936.7% during 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 during the period. State of Michigan Retirement System purchased a new position in shares of Maplebear during the second quarter valued at $484,000. Atomi Financial Group Inc. bought a new stake in shares of Maplebear in the second quarter valued at about $637,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Maplebear in the second quarter worth about $498,000. Finally, Eos Management L.P. bought a new position in Maplebear during the 2nd quarter worth about $511,000. Institutional investors own 63.09% of the company’s stock.

About Maplebear

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.