Maplebear Inc. (NASDAQ:CART – Get Free Report) CAO Alan Ramsay sold 2,559 shares of Maplebear stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $42.97, for a total value of $109,960.23. Following the transaction, the chief accounting officer now directly owns 96,666 shares in the company, valued at $4,153,738.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Alan Ramsay also recently made the following trade(s):
- On Friday, September 20th, Alan Ramsay sold 2,486 shares of Maplebear stock. The stock was sold at an average price of $41.39, for a total value of $102,895.54.
Maplebear Stock Performance
Shares of CART opened at $44.54 on Friday. The firm has a market capitalization of $11.79 billion and a P/E ratio of -2.25. The stock has a 50 day moving average price of $38.74 and a two-hundred day moving average price of $35.60. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $45.13.
Institutional Trading of Maplebear
A number of hedge funds and other institutional investors have recently made changes to their positions in CART. Sculptor Capital LP purchased a new position in Maplebear during the 2nd quarter valued at about $77,361,000. Federated Hermes Inc. boosted its position in shares of 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 acquiring an additional 876,439 shares during the period. SG Americas Securities LLC purchased a new position in Maplebear during the first quarter valued at approximately $31,109,000. Lord Abbett & CO. LLC bought a new stake in Maplebear during the 1st quarter worth approximately $28,674,000. Finally, Renaissance Technologies LLC purchased a new stake in Maplebear in the 2nd quarter worth approximately $22,816,000. 63.09% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on CART shares. Wedbush increased their target price on shares of Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Maplebear in a research report on Monday, October 7th. Bank of America boosted their target price on shares of Maplebear from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Needham & Company LLC reissued a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.10.
Read Our Latest Research Report on Maplebear
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.
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