Insider Selling: Maplebear Inc. (NASDAQ:CART) CAO Sells 2,486 Shares of Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,486 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $41.39, for a total value of $102,895.54. Following the transaction, the chief accounting officer now directly owns 99,225 shares in the company, valued at approximately $4,106,922.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, July 22nd, Alan Ramsay sold 2,626 shares of Maplebear stock. The shares were sold at an average price of $35.02, for a total value of $91,962.52.

Maplebear Trading Down 0.3 %

CART traded down $0.14 during trading on Tuesday, hitting $40.08. The company had a trading volume of 4,169,809 shares, compared to its average volume of 4,123,896. Maplebear Inc. has a one year low of $22.13 and a one year high of $42.58. The firm’s 50-day moving average price is $34.86 and its 200 day moving average price is $34.76.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. The company had revenue of $823.00 million for the quarter, compared to analyst estimates of $806.35 million. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. Maplebear’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, research analysts anticipate that Maplebear Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on CART. Wedbush lifted their price objective on Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Piper Sandler raised their price objective on shares of Maplebear from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Maplebear in a research report on Monday. Raymond James began coverage on Maplebear in a research note on Tuesday. They issued a “market perform” rating on the stock. Finally, Macquarie lifted their price objective on Maplebear from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Institutional Investors Weigh In On Maplebear

Several institutional investors have recently bought and sold shares of CART. Renaissance Capital LLC grew its stake in shares of Maplebear by 4.3% during the 1st quarter. Renaissance Capital LLC now owns 14,692 shares of the company’s stock worth $548,000 after acquiring an additional 607 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Maplebear by 139.3% during the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after purchasing an additional 620 shares during the last quarter. Creative Planning grew its position 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 purchasing an additional 831 shares in the last quarter. nVerses Capital LLC increased its stake in Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after buying an additional 1,600 shares during the last quarter. Finally, Cantor Fitzgerald L. P. boosted its stake in shares of Maplebear by 389.5% during the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after buying an additional 2,489 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

About Maplebear

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.