Insider Selling: Maplebear Inc. (NASDAQ:CART) CAO 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 on Friday, December 20th. The shares were sold at an average price of $42.14, for a total value 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. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 Stock Performance

Shares of NASDAQ CART traded down $0.05 during trading hours on Friday, hitting $42.02. The stock had a trading volume of 4,655,687 shares, compared to its average volume of 4,008,701. The company has a market capitalization of $10.79 billion, a P/E ratio of 28.20, a P/E/G ratio of 1.08 and a beta of 0.94. The firm’s 50-day moving average price is $43.74 and its two-hundred day moving average price is $38.11. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $50.01.

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

Institutional Investors Weigh In On Maplebear

A number of large investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc boosted its position in 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 during the period. Coldstream Capital Management Inc. boosted its position in Maplebear by 1.6% during the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after purchasing an additional 490 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Maplebear by 5.1% during the third 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 lifted its holdings in shares of Maplebear by 0.4% during the third quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock worth $6,176,000 after buying an additional 616 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear during the third quarter worth approximately $33,000. Institutional investors own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Macquarie lifted their price objective on shares of Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Jefferies Financial Group assumed coverage on shares of Maplebear in a research note on Wednesday, October 16th. They set a “hold” rating and a $43.00 price objective on the stock. BMO Capital Markets lifted their price objective on shares of Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Needham & Company LLC restated a “hold” rating on shares of Maplebear in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Thirteen 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, Maplebear has a consensus rating of “Moderate Buy” and an average target price of $47.14.

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.