Maplebear Inc. (NASDAQ:CART) General Counsel Morgan Fong Sells 11,325 Shares

Maplebear Inc. (NASDAQ:CART) General Counsel Morgan Fong sold 11,325 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $42.97, for a total value of $486,635.25. Following the sale, the general counsel now owns 287,659 shares of the company’s stock, valued at approximately $12,360,707.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Morgan Fong also recently made the following trade(s):

• On Friday, September 20th, Morgan Fong sold 10,992 shares of Maplebear stock. The stock was sold at an average price of $41.38, for a total value of $454,848.96.
• On Wednesday, September 18th, Morgan Fong sold 8,345 shares of Maplebear stock. The stock was sold at an average price of $40.00, for a total value of $333,800.00.

Maplebear Trading Down 0.3 %

Shares of NASDAQ:CART opened at $43.83 on Thursday. The firm’s 50 day moving average is $38.51 and its two-hundred day moving average is $35.55. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $45.13. The firm has a market capitalization of $11.60 billion and a P/E ratio of -2.21.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data 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 business had revenue of $823.00 million for the quarter, compared to analyst estimates of $806.35 million. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. Analysts predict that Maplebear Inc. will post 1.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Maplebear in a report on Wednesday, October 16th. They set a “hold” rating and a $43.00 price objective for the company. Macquarie upped their price target 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. Raymond James initiated coverage on shares of Maplebear in a research report on Tuesday, September 24th. They issued a “market perform” rating for the company. BMO Capital Markets upped their price objective on shares of Maplebear from $36.00 to $39.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Maplebear in a research report on Monday, October 7th. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.10.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CART. Counterpoint Mutual Funds LLC acquired a new position in shares of Maplebear during the first quarter valued at approximately $263,000. Hodges Capital Management Inc. bought a new stake in Maplebear during the first quarter worth approximately $6,211,000. Ironwood Financial llc bought a new stake in Maplebear during the first quarter worth approximately $337,000. Udine Wealth Management Inc. bought a new stake in Maplebear during the first quarter worth approximately $2,109,000. Finally, Sivia Capital Partners LLC bought a new stake in Maplebear during the first quarter worth approximately $369,000. Institutional investors and hedge funds 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.