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

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 12,178 shares of Maplebear stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $34.90, for a total value of $425,012.20. Following the sale, the chief accounting officer now directly owns 118,142 shares in the company, valued at $4,123,155.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 value of $415,839.29.

Maplebear Stock Up 3.9 %

Shares of CART stock traded up $1.33 on Wednesday, hitting $35.46. 4,728,894 shares of the stock were exchanged, compared to its average volume of 4,076,370. Maplebear Inc. has a one year low of $22.13 and a one year high of $42.95. The firm’s 50 day moving average is $35.45 and its two-hundred day moving average is $28.68.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.52. The firm had revenue of $803.00 million for the quarter, compared to the consensus estimate of $804.62 million. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts predict that Maplebear Inc. will post 0.53 earnings per share for the current year.

Institutional Trading of Maplebear

A number of institutional investors have recently added to or reduced their stakes in CART. TD Asset Management Inc purchased a new stake in Maplebear during the 3rd quarter worth about $6,640,000. Levin Capital Strategies L.P. purchased a new stake in Maplebear during the 3rd quarter worth about $846,000. Industry Ventures L.L.C. purchased a new stake in Maplebear during the 3rd quarter worth about $7,796,000. EFG Asset Management North America Corp. purchased a new stake in Maplebear during the 3rd quarter worth about $270,000. Finally, Signaturefd LLC purchased a new stake in shares of Maplebear in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on CART shares. Piper Sandler boosted their price target on Maplebear from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. upped their target price on Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Fox Advisors lowered Maplebear from an “overweight” rating to an “equal weight” rating in a research report on Monday, April 1st. Loop Capital began coverage on Maplebear in a research report on Friday, April 19th. They set a “buy” rating and a $46.00 target price on the stock. Finally, BMO Capital Markets began coverage on Maplebear in a report on Tuesday, January 9th. They set a “market perform” rating and a $26.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.79.

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.