Insider Selling: Maplebear (NASDAQ:CART) Insider Sells 18,390 Shares of Stock

Maplebear Inc. (NASDAQ:CART) insider Morgan Fong sold 18,390 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $44.98, for a total value of $827,182.20. Following the completion of the transaction, the insider directly owned 529,911 shares of the company’s stock, valued at approximately $23,835,396.78. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 24th, Morgan Fong sold 18,390 shares of Maplebear stock. The shares were sold at an average price of $49.96, for a total transaction of $918,764.40.

Maplebear Stock Up 0.7%

CART traded up $0.30 during trading on Thursday, hitting $43.26. The company had a trading volume of 3,859,954 shares, compared to its average volume of 4,486,445. The company has a market capitalization of $10.01 billion, a PE ratio of 23.64, a PEG ratio of 0.86 and a beta of 0.80. Maplebear Inc. has a one year low of $32.73 and a one year high of $52.68. The firm’s 50-day moving average price is $47.70 and its 200 day moving average price is $43.73.

Maplebear (NASDAQ:CART) last released its earnings results on Thursday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company posted $0.41 EPS. Maplebear’s revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts forecast that Maplebear Inc. will post 2.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Maplebear from $47.00 to $54.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Cantor Fitzgerald boosted their target price on Maplebear from $56.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Benchmark raised their price target on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Oppenheimer boosted their price objective on shares of Maplebear from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.14.

Institutional Trading of Maplebear

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pinnacle Bancorp Inc. bought a new position in Maplebear in the first quarter valued at approximately $25,000. IFP Advisors Inc raised its stake in shares of Maplebear by 761.3% during the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after purchasing an additional 845 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Maplebear by 94.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,215 shares of the company’s stock valued at $58,000 after buying an additional 591 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Maplebear in the 2nd quarter valued at approximately $62,000. Finally, Global Retirement Partners LLC bought a new position in shares of Maplebear in the second quarter valued at $67,000. Institutional investors own 63.09% of the company’s stock.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, operates an online grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can browse products from participating grocery stores, place orders for delivery or pickup, and receive updates throughout the shopping and fulfillment process.

The company provides retailers with technology and services supporting e-commerce, fulfillment, customer engagement and digital advertising.