Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay Sells 2,247 Shares

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the sale, the chief accounting officer now directly owns 87,735 shares in the company, valued at $3,697,152.90. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 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 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 Trading Down 0.1 %

NASDAQ CART opened at $42.02 on Monday. The firm has a market capitalization of $10.79 billion, a P/E ratio of 28.20, a PEG ratio of 1.08 and a beta of 0.94. The business has a fifty day simple moving average of $43.70 and a 200 day simple moving average of $38.24. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $50.01.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. The business 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 quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($20.86) EPS. As a group, sell-side analysts predict that Maplebear Inc. will post 1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Maplebear

A number of institutional investors and hedge funds have recently bought and sold shares of CART. Pacer Advisors Inc. purchased a new stake in Maplebear in the 3rd quarter valued at $158,701,000. Sculptor Capital LP purchased a new stake in shares of Maplebear during the 2nd quarter valued at $77,361,000. Geode Capital Management LLC increased its position in shares of Maplebear by 151.7% during the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Maplebear by 5,191.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after purchasing an additional 1,461,501 shares during the last quarter. Finally, Southpoint Capital Advisors LP increased its position 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 purchasing an additional 900,000 shares during the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CART has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Maplebear in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective on the stock. BMO Capital Markets lifted 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. JPMorgan Chase & Co. lifted their price objective on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Morgan Stanley cut their price objective on Maplebear from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 24th. Finally, Bank of America boosted their price target on Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.14.

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.