Maplebear Inc. (NASDAQ:CART) Short Interest Update

by · The Markets Daily

Maplebear Inc. (NASDAQ:CART – Get Free Report) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 11,260,000 shares, a decline of 26.8% from the September 30th total of 15,380,000 shares. Based on an average trading volume of 3,540,000 shares, the short-interest ratio is presently 3.2 days. Approximately 7.4% of the shares of the stock are sold short.

Analyst Ratings Changes

Several equities research analysts have weighed in on CART shares. Needham & Company LLC reissued a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Stifel Nicolaus boosted their target price on Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday. Bank of America raised their price target on Maplebear from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Benchmark reiterated a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. Finally, Raymond James started coverage on shares of Maplebear in a report on Tuesday, September 24th. They issued a “market perform” rating for the company. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Maplebear presently has an average rating of “Moderate Buy” and an average price target of $43.57.

Read Our Latest Stock Analysis on CART

Maplebear Price Performance

Shares of CART stock traded up $0.16 during mid-day trading on Tuesday, hitting $44.66. 1,618,803 shares of the stock traded hands, compared to its average volume of 3,949,383. Maplebear has a 52-week low of $22.13 and a 52-week high of $45.20. The stock has a market cap of $11.82 billion and a P/E ratio of -2.25. The stock’s fifty day moving average is $39.21 and its two-hundred day moving average is $35.65.

Maplebear (NASDAQ:CART – Get Free Report) last posted its 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. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The company had revenue of $823.00 million during the quarter, compared to analysts’ expectations of $806.35 million. The business’s revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts forecast that Maplebear will post 1.14 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,486 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $41.39, for a total transaction of $102,895.54. Following the completion of the transaction, the chief accounting officer now owns 99,225 shares of the company’s stock, valued at $4,106,922.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Morgan Fong sold 11,325 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $42.97, for a total transaction of $486,635.25. Following the sale, the general counsel now owns 287,659 shares of the company’s stock, valued at $12,360,707.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction on Friday, September 20th. The stock was sold at an average price of $41.39, for a total transaction of $102,895.54. Following the completion of the transaction, the chief accounting officer now directly owns 99,225 shares of the company’s stock, valued at $4,106,922.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,707 shares of company stock worth $2,652,050. Insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Maplebear by 239.1% in the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock worth $7,961,000 after acquiring an additional 150,544 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Maplebear in the 2nd quarter worth approximately $8,293,000. Investment House LLC purchased a new stake in Maplebear during the 2nd quarter worth approximately $750,000. GSA Capital Partners LLP acquired a new position in Maplebear during the 1st quarter valued at approximately $1,673,000. Finally, Diversified Trust Co raised its holdings in shares of Maplebear by 141.8% in the third quarter. Diversified Trust Co now owns 24,563 shares of the company’s stock worth $1,001,000 after buying an additional 14,404 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Company Profile

(Get Free Report)

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.

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