Maplebear Inc. (NASDAQ:CART) CAO Sells $86,343.00 in Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,550 shares of Maplebear stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $33.86, for a total transaction of $86,343.00. Following the sale, the chief accounting officer now owns 110,536 shares of the company’s stock, valued at $3,742,748.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, May 20th, Alan Ramsay sold 2,550 shares of Maplebear stock. The shares were sold at an average price of $33.21, for a total transaction of $84,685.50.
• On Wednesday, May 1st, Alan Ramsay sold 12,178 shares of Maplebear stock. The shares were sold at an average price of $34.90, for a total transaction of $425,012.20.

Maplebear Trading Down 0.5 %

Shares of Maplebear stock opened at $31.35 on Tuesday. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $42.95. The company has a 50 day moving average of $33.77 and a 200 day moving average of $30.90.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.39. The company had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $794.08 million. The business’s revenue was up 8.0% on a year-over-year basis. On average, research analysts predict that Maplebear Inc. will post 1.02 EPS for the current fiscal year.

Institutional Trading of Maplebear

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC purchased a new stake in Maplebear in the 3rd quarter valued at $56,424,000. Norges Bank purchased a new stake in Maplebear in the 4th quarter valued at $78,674,000. Blackstone Inc. purchased a new stake in Maplebear in the 3rd quarter valued at $17,369,000. Monashee Investment Management LLC purchased a new stake in Maplebear in the 3rd quarter valued at $6,069,000. Finally, Nomura Holdings Inc. purchased a new stake in Maplebear in the 4th quarter valued at $587,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CART. Benchmark reiterated a “hold” rating on shares of Maplebear in a research report on Tuesday, May 7th. Morgan Stanley lifted their price objective on shares of Maplebear from $28.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. Citigroup lifted their price objective on shares of Maplebear from $42.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Gordon Haskett upgraded shares of Maplebear from a “hold” rating to a “buy” rating and lifted their price objective for the company from $37.00 to $45.00 in a report on Wednesday, June 5th. Finally, Robert W. Baird lifted their price objective on shares of Maplebear from $31.00 to $44.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and an average target price of $41.25.

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.