Insider Selling: Maplebear Inc. (NASDAQ:CART) CAO Sells 2,314 Shares of Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,314 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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 shares were 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 transaction of $92,261.82.

Maplebear Price Performance

Shares of CART opened at $45.45 on Friday. The stock has a 50-day moving average of $43.45 and a 200-day moving average of $40.04. Maplebear Inc. has a one year low of $23.59 and a one year high of $50.01. The company has a market cap of $11.68 billion, a PE ratio of 30.50, a P/E/G ratio of 1.08 and a beta of 1.04.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CART. Mizuho assumed coverage on Maplebear in a research note on Tuesday, January 14th. They issued an “outperform” rating and a $55.00 price target on the stock. JMP Securities lifted their target price on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus increased their target price on shares of Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, October 28th. BMO Capital Markets lifted their price target on shares of Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Maplebear in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective for the company. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and a consensus target price of $48.96.

Institutional Trading of Maplebear

Hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in shares of Maplebear in the third quarter valued at $33,000. Huntington National Bank acquired a new stake in shares of Maplebear in the 3rd quarter worth about $54,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Maplebear in the 3rd quarter valued at about $74,000. Quarry LP boosted its stake in Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares during the last quarter. Finally, KBC Group NV increased its holdings in Maplebear by 56.5% during the 4th quarter. KBC Group NV now owns 3,808 shares of the company’s stock worth $158,000 after purchasing an additional 1,374 shares in the last quarter. Institutional investors and hedge funds 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.