Maplebear Inc. (NASDAQ:CART) General Counsel Morgan Fong Sells 18,689 Shares

Maplebear Inc. (NASDAQ:CART) General Counsel Morgan Fong sold 18,689 shares of Maplebear stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $37.62, for a total transaction of $703,080.18. Following the completion of the transaction, the general counsel now directly owns 264,379 shares of the company’s stock, valued at approximately $9,945,937.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, March 8th, Morgan Fong sold 98,200 shares of Maplebear stock. The stock was sold at an average price of $34.32, for a total transaction of $3,370,224.00.

Maplebear Stock Performance

NASDAQ CART opened at $38.03 on Tuesday. The business’s 50-day moving average is $29.54. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $42.95.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on CART shares. Benchmark downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Wedbush reduced their price target on shares of Maplebear from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, December 27th. Morgan Stanley assumed coverage on shares of Maplebear in a report on Tuesday, January 30th. They set an “equal weight” rating and a $28.00 price target for the company. Macquarie assumed coverage on shares of Maplebear in a report on Monday. They issued an “outperform” rating and a $42.00 price objective for the company. Finally, 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 report on Tuesday, March 5th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.61.

Hedge Funds Weigh In On Maplebear

Several institutional investors and hedge funds have recently bought and sold shares of CART. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST purchased a new position in Maplebear during the 3rd quarter valued at about $105,469,000. TD Asset Management Inc purchased a new position in Maplebear during the 3rd quarter valued at about $6,640,000. Levin Capital Strategies L.P. purchased a new position in Maplebear during the 3rd quarter valued at about $846,000. Industry Ventures L.L.C. purchased a new position in Maplebear during the 3rd quarter valued at about $7,796,000. Finally, EFG Asset Management North America Corp. purchased a new position in Maplebear during the 3rd quarter valued at about $270,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

About Maplebear

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.