Insider Selling: Maplebear Inc. (NASDAQ:CART) General Counsel Sells 9,228 Shares of Stock

Maplebear Inc. (NASDAQ:CARTGet Free Report) General Counsel Morgan Fong sold 9,228 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.86, for a total transaction of $312,460.08. Following the transaction, the general counsel now directly owns 381,841 shares in the company, valued at approximately $12,929,136.26. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

  • On Monday, May 20th, Morgan Fong sold 9,228 shares of Maplebear stock. The stock was sold at an average price of $33.20, for a total value of $306,369.60.
  • On Monday, April 22nd, Morgan Fong sold 18,687 shares of Maplebear stock. The shares were sold at an average price of $34.86, for a total value of $651,428.82.

Maplebear Trading Down 0.9 %

CART stock traded down $0.28 during midday trading on Monday, reaching $31.23. 2,292,278 shares of the company’s stock traded hands, compared to its average volume of 4,236,136. The company has a 50-day moving average price of $33.89 and a two-hundred day moving average price of $30.85. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $42.95.

Maplebear (NASDAQ:CARTGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.39. The company had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $794.08 million. Maplebear’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, analysts anticipate that Maplebear Inc. will post 1.02 earnings per share for the current year.

Analysts Set New Price Targets

CART has been the topic of a number of recent research reports. Fox Advisors cut Maplebear from an “overweight” rating to an “equal weight” rating in a report on Monday, April 1st. Macquarie assumed coverage on shares of Maplebear in a research report on Monday, March 25th. They set an “outperform” rating and a $42.00 target price for the company. Morgan Stanley raised their price target on shares of Maplebear from $28.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. Sanford C. Bernstein raised Maplebear from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $30.00 to $43.00 in a report on Thursday, March 14th. Finally, Wolfe Research increased their price objective on Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

View Our Latest Research Report on Maplebear

Hedge Funds Weigh In On Maplebear

Hedge funds have recently bought and sold shares of the company. SC US Ttgp LTD. bought a new position in Maplebear in the 3rd quarter valued at $1,180,490,000. Canaan Partners IX LLC purchased a new stake in shares of Maplebear in the fourth quarter worth $87,508,000. Norges Bank purchased a new stake in shares of Maplebear in the fourth quarter worth $78,674,000. FMR LLC bought a new stake in Maplebear during the third quarter valued at $56,424,000. Finally, Thrive Capital Management LLC purchased a new position in Maplebear during the third quarter worth about $47,818,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

About Maplebear

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Maplebear (NASDAQ:CART)

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