Morgan Fong Sells 18,687 Shares of Maplebear Inc. (NASDAQ:CART) Stock

Maplebear Inc. (NASDAQ:CART) General Counsel Morgan Fong sold 18,687 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $34.86, for a total value of $651,428.82. Following the completion of the sale, the general counsel now owns 418,973 shares of the company’s stock, valued at approximately $14,605,398.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, March 21st, Morgan Fong sold 18,689 shares of Maplebear stock. The stock was sold at an average price of $37.62, for a total value of $703,080.18.
• On Friday, March 8th, Morgan Fong sold 98,200 shares of Maplebear stock. The stock was sold at an average price of $34.32, for a total value of $3,370,224.00.

Maplebear Stock Up 0.8 %

NASDAQ:CART opened at $34.54 on Friday. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $42.95. The business has a 50 day simple moving average of $35.01 and a 200-day simple moving average of $28.45.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.52. The business had revenue of $803.00 million for the quarter, compared to the consensus estimate of $804.62 million. Maplebear’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts anticipate that Maplebear Inc. will post 0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Moffett Nathanson reiterated a “neutral” rating and set a $37.00 target price (up previously from $36.00) on shares of Maplebear in a research report on Thursday, April 11th. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a research report on Tuesday. Wolfe Research increased their target price on Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Robert W. Baird increased their target price on Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Finally, BMO Capital Markets assumed coverage on Maplebear in a research report on Tuesday, January 9th. They set a “market perform” rating and a $26.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.16.

Institutional Investors Weigh In On Maplebear

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC lifted its stake in shares of Maplebear by 139.3% during the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after acquiring an additional 620 shares during the last quarter. Signaturefd LLC bought a new stake in shares of Maplebear during the 3rd quarter worth approximately $30,000. Cantor Fitzgerald L. P. lifted its stake in shares of Maplebear by 389.5% during the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after acquiring an additional 2,489 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Maplebear during the 4th quarter worth approximately $69,000. Finally, Amalgamated Bank bought a new stake in Maplebear during the 4th quarter valued at $94,000. 63.09% of the stock is owned by institutional investors.

Maplebear Company Profile

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.