Maplebear Inc. (NASDAQ:CART) CAO Sells $107,091.92 in Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, December 20th, Alan Ramsay sold 2,247 shares of Maplebear stock. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58.
• On Wednesday, November 20th, Alan Ramsay sold 2,247 shares of Maplebear stock. The stock was sold at an average price of $41.06, for a total transaction of $92,261.82.
• On Wednesday, November 20th, Alan Ramsay sold 2,247 shares of Maplebear stock. The stock was sold at an average price of $41.06, for a total transaction of $92,261.82.

Maplebear Price Performance

NASDAQ:CART opened at $45.99 on Friday. The firm has a 50-day moving average of $43.50 and a 200-day moving average of $40.08. The company has a market cap of $11.81 billion, a PE ratio of 30.87, a PEG ratio of 1.01 and a beta of 1.04. Maplebear Inc. has a one year low of $23.59 and a one year high of $50.01.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $844.03 million. During the same period in the prior year, the firm posted ($20.86) EPS. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts expect that Maplebear Inc. will post 1.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CART shares. Needham & Company LLC upgraded shares of Maplebear from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Monday, January 13th. BMO Capital Markets boosted their target price on shares of Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Tuesday, January 14th. Piper Sandler boosted their target price on shares of Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Oppenheimer boosted their target price on shares of Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.96.

Institutional Investors Weigh In On Maplebear

Institutional investors have recently added to or reduced their stakes in the company. Portman Ltd bought a new stake in Maplebear in the 3rd quarter worth about $3,196,000. State Street Corp grew its position in Maplebear by 48.3% in the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company’s stock worth $103,994,000 after purchasing an additional 831,795 shares in the last quarter. Cerity Partners LLC bought a new stake in Maplebear in the 3rd quarter worth about $1,442,000. Charles Schwab Investment Management Inc. grew its position in Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock worth $60,689,000 after purchasing an additional 1,461,501 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in Maplebear in the third quarter valued at about $4,853,000. 63.09% of the stock is owned by institutional investors.

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.