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 the company’s stock in a transaction that occurred 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 transaction, the general counsel now owns 264,379 shares in the company, valued at $9,945,937.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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 Up 1.5 %

Shares of CART opened at $37.09 on Thursday. The company has a 50-day moving average price of $30.09. Maplebear Inc. has a one year low of $22.13 and a one year high of $42.95.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SC US Ttgp LTD. bought a new stake in shares of Maplebear during the 3rd quarter worth about $1,180,490,000. KPCB DGF II Associates LLC bought a new stake in shares of Maplebear during the 3rd quarter worth about $119,544,000. Canaan Partners IX LLC bought a new stake in shares of Maplebear during the 4th quarter worth about $87,508,000. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST bought a new stake in shares of Maplebear during the 3rd quarter worth about $105,469,000. Finally, Norges Bank acquired a new stake in Maplebear in the 4th quarter worth about $78,674,000. Institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

CART has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday. Morgan Stanley began coverage on shares of Maplebear in a research note on Tuesday, January 30th. They set an “equal weight” rating and a $28.00 price target for the company. Wedbush lowered their target price on shares of Maplebear from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, December 27th. Sanford C. Bernstein raised shares of Maplebear from a “market perform” rating to an “outperform” rating and upped their target price for the company from $30.00 to $43.00 in a research note on Thursday, March 14th. Finally, Barclays upped their target price on shares of Maplebear from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and an average price target of $36.61.

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.