Maplebear Inc. (NASDAQ:CART) Short Interest Down 14.6% in January

Maplebear Inc. (NASDAQ:CART - Get Free Report) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 11,260,000 shares, a decrease of 14.6% from the December 31st total of 13,190,000 shares. Approximately 6.7% of the shares of the company are sold short. Based on an average daily trading volume, of 3,650,000 shares, the short-interest ratio is presently 3.1 days.

Maplebear Stock Performance

NASDAQ CART traded up $0.91 during mid-day trading on Tuesday, reaching $49.04. 1,701,319 shares of the stock were exchanged, compared to its average volume of 4,486,561. The stock has a market capitalization of $12.60 billion, a PE ratio of 32.90, a PEG ratio of 1.09 and a beta of 1.07. Maplebear has a 1-year low of $23.59 and a 1-year high of $50.01. The business's fifty day simple moving average is $44.19 and its 200 day simple moving average is $40.78.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. The business had revenue of $852.00 million for the quarter, compared to analysts' expectations of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business's revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm earned ($20.86) earnings per share. On average, analysts anticipate that Maplebear will post 1.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CART. Oppenheimer increased their price target on shares of Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Piper Sandler increased their target price on Maplebear from $50.00 to $58.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Loop Capital lifted their price target on Maplebear from $49.00 to $56.00 and gave the company a "buy" rating in a research note on Monday, December 9th. JMP Securities increased their price objective on Maplebear from $42.00 to $51.00 and gave the stock a "market outperform" rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird raised their target price on Maplebear from $44.00 to $51.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $48.96.

Insider Activity

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now directly owns 85,421 shares of the company's stock, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 29,253 shares of the company's stock in a transaction on 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 transaction, the general counsel now owns 258,406 shares of the company's stock, valued at approximately $12,411,240.18. The trade was a 10.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,808 shares of company stock valued at $3,569,808. Insiders own 36.00% of the company's stock.

Institutional Trading of Maplebear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CART. Bank of New York Mellon Corp increased its holdings in shares of Maplebear by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 593,480 shares of the company's stock worth $24,582,000 after buying an additional 23,295 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in Maplebear during the fourth quarter valued at about $1,508,000. Ieq Capital LLC increased its stake in Maplebear by 1.9% during the fourth quarter. Ieq Capital LLC now owns 225,957 shares of the company's stock worth $9,359,000 after acquiring an additional 4,140 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Maplebear by 10.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 17,765 shares of the company's stock worth $736,000 after purchasing an additional 1,738 shares during the period. Finally, Kornitzer Capital Management Inc. KS lifted its stake in shares of Maplebear by 19.5% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 245,000 shares of the company's stock valued at $10,148,000 after purchasing an additional 40,000 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

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.