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

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 12,178 shares of the 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 owns 118,142 shares of the company’s stock, valued at $4,123,155.80. 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 Friday, March 8th, Alan Ramsay sold 12,113 shares of Maplebear stock. The shares were sold at an average price of $34.33, for a total value of $415,839.29.

Maplebear Trading Up 3.1 %

Shares of NASDAQ CART opened at $36.70 on Friday. The firm’s 50 day moving average price is $35.70 and its 200-day moving average price is $28.78. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $42.95.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.52. The company had revenue of $803.00 million for the quarter, compared to the consensus estimate of $804.62 million. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts expect that Maplebear Inc. will post 0.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CART. Parallel Advisors LLC lifted its position 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 period. Signaturefd LLC bought a new position in Maplebear during the third quarter valued at approximately $30,000. Cantor Fitzgerald L. P. increased 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 buying an additional 2,489 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Maplebear during the fourth quarter valued at approximately $69,000. Finally, Amalgamated Bank purchased a new stake in Maplebear during the fourth quarter valued at approximately $94,000. Institutional investors own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CART shares. Piper Sandler upped their price target on shares of Maplebear from $36.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Fox Advisors cut shares of Maplebear from an “overweight” rating to an “equal weight” rating in a research report on Monday, April 1st. Benchmark cut shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Oppenheimer boosted their price objective on shares of Maplebear from $36.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Finally, BMO Capital Markets initiated coverage on shares of Maplebear in a research report on Tuesday, January 9th. They issued a “market perform” rating and a $26.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.