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 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 completion of the transaction, the general counsel now owns 287,659 shares of the company’s stock, valued at $12,360,707.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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 transaction of $454,848.96.
• On Wednesday, September 18th, Morgan Fong sold 8,345 shares of Maplebear stock. The shares were sold at an average price of $40.00, for a total transaction of $333,800.00.

Maplebear Stock Down 0.3 %

Shares of CART stock traded down $0.15 during mid-day trading on Wednesday, reaching $43.83. The company’s stock had a trading volume of 1,936,297 shares, compared to its average volume of 3,990,633. The firm has a market capitalization of $11.60 billion and a PE ratio of -2.22. The company’s 50 day simple moving average is $38.27 and its 200-day simple moving average is $35.49. Maplebear Inc. has a 12-month low of $22.13 and a 12-month high of $45.13.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $806.35 million. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, research analysts anticipate that Maplebear Inc. will post 1.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. nVerses Capital LLC raised its position in shares of Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after purchasing an additional 1,600 shares in the last quarter. Quarry LP grew its holdings in Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after acquiring an additional 2,865 shares in the last quarter. Watts Gwilliam & Co. LLC acquired a new position in Maplebear in the third quarter worth about $231,000. Oppenheimer & Co. Inc. acquired a new position in Maplebear in the first quarter worth about $213,000. Finally, Donoghue Forlines LLC bought a new stake in Maplebear in the first quarter valued at about $262,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CART. Piper Sandler raised their price objective on Maplebear from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. BMO Capital Markets lifted their price target on Maplebear from $36.00 to $39.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Wolfe Research assumed coverage on shares of Maplebear in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Macquarie increased their price target on shares of Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.10.

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.