Insider Selling: Maplebear Inc. (NASDAQ:CART) CAO Sells 2,247 Shares of 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 shares were sold at an average price of $42.97, for a total transaction of $109,960.23.

Maplebear Trading Down 0.1 %

Shares of NASDAQ CART opened at $42.02 on Friday. Maplebear Inc. has a 12-month low of $22.13 and a 12-month high of $50.01. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 1.08 and a beta of 0.94. The firm has a 50 day moving average of $43.70 and a 200 day moving average of $38.18.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.22 by $0.20. The firm had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Maplebear’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted ($20.86) EPS. Sell-side analysts predict that Maplebear Inc. will post 1.4 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on CART shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Maplebear in a research note on Wednesday, November 13th. JMP Securities upped their price objective on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Barclays raised their target price on Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Piper Sandler upped their price target on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Loop Capital boosted 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. Thirteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and an average price target of $47.14.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new stake in Maplebear in the 3rd quarter worth approximately $158,701,000. Geode Capital Management LLC boosted its position in shares of Maplebear by 151.7% during the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after acquiring an additional 1,647,081 shares during the last quarter. Maverick Capital Ltd. increased its holdings 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 acquiring an additional 441,156 shares during the last quarter. State Street Corp increased its holdings in Maplebear by 48.3% in the 3rd 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 during the last quarter. Finally, Southpoint Capital Advisors LP lifted its stake 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 purchasing an additional 900,000 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

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.