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

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,247 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the sale, the chief accounting officer now owns 87,735 shares in the company, valued at $3,697,152.90. This represents a 2.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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 shares were sold at an average price of $42.97, for a total value of $109,960.23.

Maplebear Price Performance

Shares of Maplebear stock opened at $42.02 on Friday. The firm has a market cap of $10.79 billion, a PE ratio of 28.20, a P/E/G ratio of 1.08 and a beta of 0.94. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $50.01. The stock has a fifty day moving average price of $43.70 and a 200-day moving average price of $38.18.

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

Hedge Funds Weigh In On Maplebear

Large investors have recently modified their holdings of the company. CIBC Asset Management Inc grew its holdings in shares of Maplebear by 3.7% during the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after purchasing an additional 286 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in Maplebear by 1.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after buying an additional 490 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Maplebear by 5.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock worth $493,000 after buying an additional 584 shares during the last quarter. Pier Capital LLC raised its position in shares of Maplebear by 0.4% during the 3rd quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock valued at $6,176,000 after buying an additional 616 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Maplebear during the 3rd quarter worth $33,000. 63.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Barclays increased their price objective on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Maplebear in a report on Monday, October 7th. Bank of America upped their price objective on shares of Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Morgan Stanley lowered their target price on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group began coverage on shares of Maplebear in a research report on Wednesday, October 16th. They set a “hold” rating and a $43.00 price target on the stock. Thirteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.