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

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,247 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total value of $92,261.82. Following 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 filing with the SEC, which is available through 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 stock was 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 stock was sold at an average price of $42.97, for a total value of $109,960.23.
• On Friday, September 20th, Alan Ramsay sold 2,486 shares of Maplebear stock. The shares were sold at an average price of $41.39, for a total transaction of $102,895.54.

Maplebear Stock Performance

NASDAQ CART traded down $0.03 during trading hours on Friday, reaching $43.22. The company’s stock had a trading volume of 4,461,361 shares, compared to its average volume of 4,011,841. The company’s 50-day moving average is $42.70 and its two-hundred day moving average is $36.79. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $50.01. 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 (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same quarter in the prior year, the business posted ($20.86) earnings per share. Maplebear’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on CART shares. Raymond James initiated coverage on Maplebear in a research report on Tuesday, September 24th. They set a “market perform” rating for the company. Benchmark reissued a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. BMO Capital Markets lifted their target price on Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. Needham & Company LLC restated a “hold” rating on shares of Maplebear in a report on Wednesday, November 13th. Finally, Bank of America boosted their price objective on shares of Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. CIBC Asset Management Inc boosted its holdings 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 buying an additional 286 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of 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. increased its stake in shares of Maplebear by 5.1% in the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock worth $493,000 after acquiring an additional 584 shares during the last quarter. Pier Capital LLC increased its position in Maplebear by 0.4% in the 3rd quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock worth $6,176,000 after purchasing an additional 616 shares during the last quarter. Finally, Creative Planning lifted its stake in Maplebear by 9.5% in the second quarter. Creative Planning now owns 9,566 shares of the company’s stock valued at $307,000 after acquiring an additional 831 shares during the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

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.