Insider Selling: Maplebear Inc. (NASDAQ:CART) CAO Sells 2,626 Shares of Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,626 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $91,962.52. Following the sale, the chief accounting officer now directly owns 107,910 shares of the company’s stock, valued at $3,779,008.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, June 20th, Alan Ramsay sold 2,550 shares of Maplebear stock. The stock was sold at an average price of $33.86, for a total value of $86,343.00.
• On Monday, May 20th, Alan Ramsay sold 2,550 shares of Maplebear stock. The stock was sold at an average price of $33.21, for a total value of $84,685.50.
• On Wednesday, May 1st, Alan Ramsay sold 12,178 shares of Maplebear stock. The stock was sold at an average price of $34.90, for a total value of $425,012.20.

Maplebear Trading Down 3.7 %

CART stock traded down $1.31 during mid-day trading on Wednesday, reaching $33.97. The company’s stock had a trading volume of 2,559,360 shares, compared to its average volume of 4,180,087. The business’s 50 day moving average price is $33.14 and its 200 day moving average price is $32.39. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $42.95.

Maplebear (NASDAQ:CART) last issued its earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.39. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $794.08 million. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. Research analysts forecast that Maplebear Inc. will post 1.01 earnings per share for the current year.

Analysts Set New Price Targets

CART has been the subject of several research reports. Moffett Nathanson reaffirmed a “neutral” rating and set a $37.00 price target (up previously from $36.00) on shares of Maplebear in a report on Thursday, April 11th. Gordon Haskett upgraded Maplebear from a “hold” rating to a “buy” rating and raised their price target for the stock from $37.00 to $45.00 in a research report on Wednesday, June 5th. Loop Capital raised their price objective on Maplebear from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Fox Advisors lowered Maplebear from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 1st. Finally, KeyCorp initiated coverage on Maplebear in a research note on Thursday, July 11th. They set a “sector weight” rating on the stock. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and an average target price of $41.50.

Institutional Investors Weigh In On Maplebear

A number of hedge funds have recently added to or reduced their stakes in CART. Parallel Advisors LLC increased its holdings in Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after purchasing an additional 620 shares in the last quarter. Cantor Fitzgerald L. P. increased its holdings in Maplebear by 389.5% in the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in Maplebear in the fourth quarter worth approximately $69,000. Amalgamated Bank bought a new stake in Maplebear in the fourth quarter worth approximately $94,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Maplebear during the fourth quarter valued at approximately $110,000. 63.09% of the stock is currently owned by institutional investors.

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.