Insider Selling: Maplebear Inc. (NASDAQ:CART) CAO Sells $425,012.20 in Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 12,178 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $34.90, for a total transaction of $425,012.20. Following the sale, the chief accounting officer now owns 118,142 shares in the company, valued at $4,123,155.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, March 8th, Alan Ramsay sold 12,113 shares of Maplebear stock. The stock was sold at an average price of $34.33, for a total value of $415,839.29.

Maplebear Trading Up 3.1 %

Shares of NASDAQ CART opened at $36.70 on Friday. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $42.95. The stock has a 50 day moving average of $35.70 and a 200-day moving average of $28.78.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.52. The company had revenue of $803.00 million for the quarter, compared to the consensus estimate of $804.62 million. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Maplebear Inc. will post 0.53 earnings per share for the current year.

Hedge Funds Weigh In On Maplebear

Several institutional investors and hedge funds have recently modified their holdings of CART. FMR LLC bought a new stake in shares of Maplebear during the 3rd quarter worth approximately $56,424,000. Blackstone Inc. bought a new stake in Maplebear during the 3rd quarter worth $17,369,000. KPCB DGF II Associates LLC acquired a new position in Maplebear in the 3rd quarter worth about $119,544,000. Monashee Investment Management LLC acquired a new position in shares of Maplebear in the third quarter valued at approximately $6,069,000. Finally, Federated Hermes Inc. raised its holdings in Maplebear by 190.2% in the 4th quarter. Federated Hermes Inc. now owns 464,355 shares of the company’s stock valued at $10,898,000 after buying an additional 304,355 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CART. Sanford C. Bernstein raised Maplebear from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $30.00 to $43.00 in a research report on Thursday, March 14th. Oppenheimer upped their price target on Maplebear from $36.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Fox Advisors downgraded shares of Maplebear from an “overweight” rating to an “equal weight” rating in a report on Monday, April 1st. Needham & Company LLC restated a “hold” rating on shares of Maplebear in a report on Tuesday, April 23rd. Finally, Piper Sandler lifted their price target on shares of Maplebear from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and an average price target of $38.79.

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.