Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay Sells 2,486 Shares

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,486 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $41.39, for a total transaction of $102,895.54. Following the transaction, the chief accounting officer now owns 99,225 shares in the company, valued at $4,106,922.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alan Ramsay also recently made the following trade(s):

• On Monday, July 22nd, Alan Ramsay sold 2,626 shares of Maplebear stock. The shares were sold at an average price of $35.02, for a total transaction of $91,962.52.

Maplebear Price Performance

CART stock traded down $0.14 during mid-day trading on Tuesday, hitting $40.08. The stock had a trading volume of 4,169,809 shares, compared to its average volume of 4,123,896. The firm has a fifty day simple moving average of $34.86 and a 200 day simple moving average of $34.76. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $42.58.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. The firm had revenue of $823.00 million for the quarter, compared to the consensus estimate of $806.35 million. The company’s quarterly revenue was up 14.9% on a year-over-year basis. On average, analysts anticipate that Maplebear Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wedbush raised their target price on shares of Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Bank of America raised their price objective on Maplebear from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday. Wolfe Research began coverage on Maplebear in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Macquarie raised their price target on Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Gordon Haskett upgraded shares of Maplebear from a “hold” rating to a “buy” rating and upped their price objective for the company from $37.00 to $45.00 in a report on Wednesday, June 5th. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Maplebear in the fourth quarter worth about $78,674,000. Sculptor Capital LP bought a new position in Maplebear in the 2nd quarter valued at approximately $77,361,000. Federated Hermes Inc. boosted its position in Maplebear by 102.2% in the second quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock valued at $55,739,000 after buying an additional 876,439 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Maplebear during the first quarter worth $31,109,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Maplebear during the first quarter worth $28,674,000. Institutional investors own 63.09% of the company’s stock.

Maplebear Company Profile

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.