Maplebear (NASDAQ:CART) General Counsel Morgan Fong Sells 3,546 Shares

Maplebear Inc. (NASDAQ:CART) General Counsel Morgan Fong sold 3,546 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $38.85, for a total transaction of $137,762.10. Following the completion of the transaction, the general counsel owned 427,523 shares in the company, valued at approximately $16,609,268.55. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, September 22nd, Morgan Fong sold 3,546 shares of Maplebear stock. The shares were sold at an average price of $42.39, for a total transaction of $150,314.94.

Maplebear Trading Up 1.7%

NASDAQ:CART opened at $39.47 on Thursday. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 1.19 and a beta of 1.10. The company’s 50-day moving average is $42.26 and its two-hundred day moving average is $44.18. Maplebear Inc. has a 12-month low of $34.87 and a 12-month high of $53.50.

Maplebear (NASDAQ:CART) last released its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. On average, equities research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Institutional Trading of Maplebear

Institutional investors and hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group acquired a new stake in Maplebear during the 1st quarter worth approximately $40,000. Spire Wealth Management acquired a new stake in Maplebear in the first quarter valued at approximately $41,000. CWM LLC grew its position in Maplebear by 35.1% in the first quarter. CWM LLC now owns 1,058 shares of the company’s stock valued at $42,000 after acquiring an additional 275 shares in the last quarter. Golden State Wealth Management LLC grew its position in Maplebear by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company’s stock valued at $43,000 after acquiring an additional 533 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Maplebear in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Maplebear from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Friday, August 15th. Piper Sandler lowered shares of Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a report on Friday, October 3rd. Wells Fargo & Company cut their price objective on shares of Maplebear from $57.00 to $47.00 and set an “equal weight” rating on the stock in a report on Friday, October 3rd. Fox Advisors upgraded shares of Maplebear from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Finally, JMP Securities increased their target price on shares of Maplebear from $55.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Maplebear presently has an average rating of “Moderate Buy” and an average price target of $52.40.

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.