Maplebear Inc. (NASDAQ:CART) Short Interest Update

Maplebear Inc. (NASDAQ:CART) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 11,260,000 shares, a decline of 14.6% from the December 15th total of 13,190,000 shares. Currently, 6.7% of the company’s shares are short sold. Based on an average daily volume of 3,650,000 shares, the days-to-cover ratio is currently 3.1 days.

Insider Activity

In other news, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $44.39, for a total value of $921,092.50. Following the completion of the sale, the chief executive officer now directly owns 1,803,278 shares of the company’s stock, valued at approximately $80,047,510.42. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Morgan Fong sold 29,253 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the completion of the sale, the general counsel now owns 258,406 shares of the company’s stock, valued at $12,411,240.18. This trade represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,128 shares of company stock valued at $4,980,404. 36.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Maplebear

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in Maplebear in the third quarter worth $33,000. Huntington National Bank purchased a new stake in Maplebear during the third quarter valued at approximately $54,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Maplebear in the 3rd quarter valued at approximately $74,000. Quarry LP lifted its stake in shares of Maplebear by 269.5% in the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares during the last quarter. Finally, Vinva Investment Management Ltd purchased a new position in shares of Maplebear in the 3rd quarter worth approximately $212,000. 63.09% of the stock is owned by institutional investors.

Maplebear Stock Down 0.6 %

NASDAQ CART opened at $46.32 on Friday. The business has a 50-day moving average price of $43.49 and a 200-day moving average price of $39.75. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 1.00 and a beta of 1.04. Maplebear has a twelve month low of $23.59 and a twelve month high of $50.01.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $852.00 million for the quarter, compared to analysts’ expectations of $844.03 million. During the same quarter in the previous year, the company earned ($20.86) EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. Research analysts expect that Maplebear will post 1.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CART shares. Macquarie lifted their target price on shares of Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Raymond James started coverage on shares of Maplebear in a report on Tuesday, September 24th. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Maplebear in a report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price target on the stock. JMP Securities upped their price objective on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Finally, BMO Capital Markets increased their price objective on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.31.

Maplebear Company Profile

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.