Maplebear Inc. (NASDAQ:CART - Get Free Report) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 15,380,000 shares, a growth of 13.4% from the September 15th total of 13,560,000 shares. Based on an average trading volume of 3,620,000 shares, the short-interest ratio is currently 4.2 days. Currently, 10.2% of the shares of the stock are sold short.
In related news, CAO Alan Ramsay sold 2,626 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $91,962.52. Following the completion of the transaction, the chief accounting officer now directly owns 107,910 shares in the company, valued at approximately $3,779,008.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, General Counsel Morgan Fong sold 9,506 shares of the company's stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total transaction of $332,900.12. Following the sale, the general counsel now owns 372,335 shares of the company's stock, valued at approximately $13,039,171.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,626 shares of Maplebear stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $35.02, for a total value of $91,962.52. Following the completion of the transaction, the chief accounting officer now owns 107,910 shares of the company's stock, valued at $3,779,008.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,955 shares of company stock valued at $2,480,317 over the last ninety days. Insiders own 36.00% of the company's stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. nVerses Capital LLC grew its holdings in Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company's stock worth $55,000 after buying an additional 1,600 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Maplebear in the 4th quarter valued at about $69,000. Quarry LP increased its stake in Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company's stock valued at $126,000 after buying an additional 2,865 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Maplebear during the 1st quarter valued at about $213,000. Finally, Watts Gwilliam & Co. LLC bought a new stake in shares of Maplebear during the 3rd quarter worth about $231,000. Institutional investors and hedge funds own 63.09% of the company's stock.
CART has been the subject of several recent analyst reports. Macquarie boosted their price objective on shares of Maplebear from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Wolfe Research initiated coverage on shares of Maplebear in a research note on Tuesday, July 16th. They issued a "peer perform" rating for the company. Needham & Company LLC reiterated a "hold" rating on shares of Maplebear in a research report on Wednesday, August 7th. Citigroup raised their price target on Maplebear from $44.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Finally, Morgan Stanley reduced their price objective on Maplebear from $45.00 to $41.00 and set an "equal weight" rating for the company in a research note on Tuesday, September 24th. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Maplebear has a consensus rating of "Moderate Buy" and a consensus price target of $43.33.
View Our Latest Report on CART
Shares of NASDAQ CART opened at $42.84 on Tuesday. Maplebear has a 1-year low of $22.13 and a 1-year high of $45.01. The company has a market capitalization of $11.34 billion and a price-to-earnings ratio of -2.16. The business has a 50-day moving average of $36.97 and a 200-day moving average of $35.26.
Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (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 for the quarter, compared to analyst estimates of $806.35 million. The business's quarterly revenue was up 14.9% compared to the same quarter last year. Research analysts expect that Maplebear will post 1.14 EPS for the current fiscal year.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Maplebear, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Maplebear wasn't on the list.
While Maplebear currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.