Morgan Fong Sells 4,914 Shares of Maplebear (NASDAQ:CART) Stock

by · The Cerbat Gem

Maplebear Inc. (NASDAQ:CART – Get Free Report) General Counsel Morgan Fong sold 4,914 shares of Maplebear stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total transaction of $222,161.94. Following the completion of the sale, the general counsel owned 404,940 shares in the company, valued at approximately $18,307,337.40. This trade represents a 1.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Monday, October 20th, Morgan Fong sold 3,546 shares of Maplebear stock. The stock was sold at an average price of $38.85, for a total transaction of $137,762.10.

Maplebear Trading Down 0.1%

NASDAQ:CART opened at $45.01 on Thursday. The company has a 50-day moving average price of $41.07 and a 200-day moving average price of $43.52. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 1.47 and a beta of 1.01. Maplebear Inc. has a 12 month low of $34.78 and a 12 month high of $53.50.

Maplebear (NASDAQ:CART – Get Free Report) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The company had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $933.76 million. During the same quarter in the previous year, the company earned $0.42 earnings per share. Maplebear’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CART has been the topic of several recent research reports. Needham & Company LLC reduced their price target on Maplebear from $66.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Guggenheim started coverage on shares of Maplebear in a research report on Wednesday, October 15th. They issued a “neutral” rating and a $40.00 target price on the stock. Piper Sandler cut shares of Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price target for the company. in a research report on Friday, October 3rd. BTIG Research restated a “neutral” rating and issued a $55.00 price objective on shares of Maplebear in a report on Tuesday, September 30th. Finally, Citigroup lowered their target price on shares of Maplebear from $65.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.21.

View Our Latest Stock Report on CART

Institutional Trading of Maplebear

A number of institutional investors have recently made changes to their positions in CART. Viking Global Investors LP bought a new position in shares of Maplebear during the 2nd quarter valued at $169,782,000. William Blair Investment Management LLC purchased a new position in Maplebear during the second quarter valued at approximately $151,364,000. Holocene Advisors LP bought a new position in Maplebear in the 3rd quarter worth $90,167,000. Norges Bank bought a new position in Maplebear in the 2nd quarter worth $97,351,000. Finally, Boston Partners increased its stake in Maplebear by 93.3% in the 2nd quarter. Boston Partners now owns 3,961,838 shares of the company’s stock worth $179,261,000 after buying an additional 1,911,771 shares in the last quarter. 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, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.

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