Maplebear Inc. (NASDAQ:CART) General Counsel Morgan Fong Sells 29,253 Shares

Maplebear Inc. (NASDAQ:CART) General Counsel Morgan Fong sold 29,253 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the sale, the general counsel now directly owns 258,406 shares of the company’s stock, valued at approximately $12,411,240.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, October 21st, Morgan Fong sold 11,325 shares of Maplebear stock. The stock was sold at an average price of $42.97, for a total transaction of $486,635.25.
• On Friday, September 20th, Morgan Fong sold 10,992 shares of Maplebear stock. The shares were 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 Trading Down 1.9 %

Shares of CART traded down $0.94 on Friday, reaching $47.72. 3,922,983 shares of the company’s stock were exchanged, compared to its average volume of 3,917,582. The stock has a market capitalization of $12.45 billion, a P/E ratio of -2.40, a price-to-earnings-growth ratio of 1.39 and a beta of 1.12. The business has a 50 day moving average price of $40.91 and a two-hundred day moving average price of $36.16. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $50.01.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. The business had revenue of $823.00 million during the quarter, compared to the consensus estimate of $806.35 million. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities research analysts predict that Maplebear Inc. will post 1.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CART shares. Morgan Stanley dropped their price objective on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 24th. KeyCorp assumed coverage on shares of Maplebear in a research note on Thursday, July 11th. They issued a “sector weight” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Wedbush raised their target price on shares of Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Stifel Nicolaus raised their price objective on shares of Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Maplebear has an average rating of “Moderate Buy” and a consensus target price of $43.90.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CART. Huntington National Bank acquired a new position in Maplebear during the third quarter valued at approximately $54,000. nVerses Capital LLC grew its holdings in Maplebear by 1,600.0% during the second 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 during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Maplebear during the third quarter valued at approximately $74,000. Quarry LP grew its holdings in Maplebear by 269.5% during the second quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new position in Maplebear during the first quarter valued at approximately $213,000. 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.