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

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

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 value 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 value of $171,550.00.

Maplebear Trading Down 3.2 %

Shares of NASDAQ CART opened at $35.23 on Friday. The stock has a 50 day simple moving average of $34.42 and a 200-day simple moving average of $28.23. Maplebear Inc. has a 12-month low of $22.13 and a 12-month high of $42.95.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.52. The firm had revenue of $803.00 million for the quarter, compared to the consensus estimate of $804.62 million. Maplebear’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts forecast that Maplebear Inc. will post 0.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CART. BMO Capital Markets started coverage on Maplebear in a research note on Tuesday, January 9th. They issued a “market perform” rating and a $26.00 price target for the company. Morgan Stanley started coverage on Maplebear in a research note on Tuesday, January 30th. They issued an “equal weight” rating and a $28.00 target price for the company. Loop Capital started coverage on Maplebear in a research note on Friday. They issued a “buy” rating and a $46.00 target price for the company. Barclays lifted their target price on Maplebear from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Finally, Fox Advisors downgraded Maplebear from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 1st. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.16.

Institutional Investors Weigh In On Maplebear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CART. SC US Ttgp LTD. bought a new stake in Maplebear during the third quarter worth approximately $1,180,490,000. KPCB DGF II Associates LLC bought a new stake in Maplebear during the third quarter worth approximately $119,544,000. Canaan Partners IX LLC bought a new stake in Maplebear during the fourth quarter worth approximately $87,508,000. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST bought a new stake in Maplebear during the third quarter worth approximately $105,469,000. Finally, Norges Bank bought a new stake in Maplebear during the fourth quarter worth approximately $78,674,000. 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.