Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay Sells 12,178 Shares of Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 12,178 shares of the company’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 transaction, the chief accounting officer now owns 118,142 shares in the company, valued at approximately $4,123,155.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 transaction of $415,839.29.

Maplebear Stock Performance

CART opened at $35.46 on Thursday. The firm has a 50-day moving average of $35.59 and a 200 day moving average of $28.73. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $42.95.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CART. JPMorgan Chase & Co. upped their price objective on shares of Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. BMO Capital Markets began coverage on shares of Maplebear in a research note on Tuesday, January 9th. They issued a “market perform” rating and a $26.00 target price for the company. Robert W. Baird upped their target price on shares of Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Piper Sandler upped their target price on shares of Maplebear from $36.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, Oppenheimer upped their target price on shares of Maplebear from $36.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.79.

Institutional Investors Weigh In On Maplebear

Several institutional investors have recently added to or reduced their stakes in CART. Parallel Advisors LLC lifted its holdings in Maplebear by 139.3% during the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after purchasing an additional 620 shares during the last quarter. Signaturefd LLC purchased a new stake in Maplebear during the third quarter valued at about $30,000. Cantor Fitzgerald L. P. lifted its holdings in Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after purchasing an additional 2,489 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Maplebear during the fourth quarter valued at about $69,000. Finally, Amalgamated Bank purchased a new stake in Maplebear during the fourth quarter valued at about $94,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

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.