Maplebear Inc. (NASDAQ:CART) CAO Sells $92,261.82 in Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total value of $92,261.82. Following the completion of the transaction, the chief accounting officer now directly owns 89,982 shares in the company, valued at approximately $3,694,660.92. This represents a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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 transaction 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 transaction of $109,960.23.
• On Friday, September 20th, Alan Ramsay sold 2,486 shares of Maplebear stock. The stock was sold at an average price of $41.39, for a total transaction of $102,895.54.

Maplebear Price Performance

Maplebear stock traded down $0.03 during trading hours on Friday, reaching $43.22. The stock had a trading volume of 4,461,361 shares, compared to its average volume of 4,011,841. The company has a fifty day simple moving average of $42.70 and a 200-day simple moving average of $36.79. The stock has a market cap of $11.10 billion, a PE ratio of 29.00, a PEG ratio of 1.11 and a beta of 1.12. 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 data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same quarter last year, the firm posted ($20.86) earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts predict that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Institutional Trading of Maplebear

Large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new stake in shares of Maplebear during the 3rd quarter valued at about $158,701,000. Geode Capital Management LLC raised its position in shares of Maplebear by 151.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock valued at $111,361,000 after purchasing an additional 1,647,081 shares during the period. Maverick Capital Ltd. lifted its position in shares of Maplebear by 19.7% in the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock valued at $109,363,000 after acquiring an additional 441,156 shares in the last quarter. State Street Corp lifted its holdings 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. Finally, Southpoint Capital Advisors LP boosted its position in shares of Maplebear by 56.3% during the third quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock worth $101,850,000 after acquiring an additional 900,000 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CART. Raymond James started coverage on Maplebear in a report on Tuesday, September 24th. They set a “market perform” rating for the company. Jefferies Financial Group began coverage on shares of Maplebear in a research report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 price target on the stock. Bank of America raised their price objective on shares of Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Wedbush increased their price target on Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, JMP Securities lifted their price objective on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.29.

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.