Maplebear Inc. (NASDAQ:CART) CFO Nick Giovanni Sells 10,000 Shares

Maplebear Inc. (NASDAQ:CART) CFO Nick Giovanni sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $36.97, for a total transaction of $369,700.00. Following the completion of the transaction, the chief financial officer now owns 576,977 shares in the company, valued at $21,330,839.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Nick Giovanni also recently made the following trade(s):

• On Monday, March 11th, Nick Giovanni sold 900 shares of Maplebear stock. The stock was sold at an average price of $35.00, for a total transaction of $31,500.00.
• On Friday, March 8th, Nick Giovanni sold 5,000 shares of Maplebear stock. The stock was sold at an average price of $34.31, for a total transaction of $171,550.00.

Maplebear Stock Down 3.2 %

Shares of NASDAQ CART opened at $35.23 on Friday. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $42.95. The firm’s 50 day simple moving average is $34.42 and its 200-day simple moving average is $28.22.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CART shares. JPMorgan Chase & Co. upped their price target on shares of Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Loop Capital began coverage on shares of Maplebear in a research note on Friday. They issued a “buy” rating and a $46.00 price objective for the company. Wolfe Research upped their price objective on shares of Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Piper Sandler upped their price objective on shares of Maplebear from $36.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, Benchmark lowered shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.16.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Capital LLC lifted its holdings in Maplebear by 4.3% in the 1st quarter. Renaissance Capital LLC now owns 14,692 shares of the company’s stock valued at $548,000 after purchasing an additional 607 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Maplebear by 139.3% in the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after purchasing an additional 620 shares in the last quarter. Signaturefd LLC purchased a new position in Maplebear in the 3rd quarter valued at $30,000. UBS Group AG purchased a new position in Maplebear in the 3rd quarter valued at $56,000. Finally, Cantor Fitzgerald L. P. lifted its holdings in Maplebear by 389.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after purchasing an additional 2,489 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

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.