Maplebear Inc. (NASDAQ:CART - Get Free Report) General Counsel Morgan Fong sold 4,680 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $43.90, for a total transaction of $205,452.00. Following the completion of the transaction, the general counsel now owns 456,680 shares in the company, valued at approximately $20,048,252. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Morgan Fong also recently made the following trade(s):
- On Monday, April 21st, Morgan Fong sold 5,249 shares of Maplebear stock. The shares were sold at an average price of $42.57, for a total value of $223,449.93.
Maplebear Price Performance
Shares of Maplebear stock traded up $1.11 on Tuesday, hitting $44.97. 4,119,409 shares of the company's stock traded hands, compared to its average volume of 4,010,026. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The stock has a market capitalization of $11.81 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 1.84 and a beta of 1.30. The firm's 50-day moving average price is $44.25 and its two-hundred day moving average price is $43.72.
Maplebear (NASDAQ:CART - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The business had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a net margin of 12.45% and a return on equity of 14.12%. The company's revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS. On average, analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have commented on CART shares. Wall Street Zen cut Maplebear from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Needham & Company LLC reissued a "buy" rating and issued a $56.00 price objective on shares of Maplebear in a research report on Friday, May 2nd. Loop Capital upped their target price on shares of Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $55.00 target price on shares of Maplebear in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus lowered their target price on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.91.
Read Our Latest Report on CART
Hedge Funds Weigh In On Maplebear
A number of hedge funds and other institutional investors have recently made changes to their positions in CART. Voya Investment Management LLC boosted its position in shares of Maplebear by 90.7% during the 1st quarter. Voya Investment Management LLC now owns 38,568 shares of the company's stock valued at $1,538,000 after acquiring an additional 18,346 shares during the last quarter. Anderson Financial Strategies LLC increased its position in Maplebear by 55.8% during the first quarter. Anderson Financial Strategies LLC now owns 1,745 shares of the company's stock valued at $70,000 after acquiring an additional 625 shares during the last quarter. Strs Ohio bought a new position in Maplebear in the 1st quarter worth $1,246,000. McAdam LLC purchased a new position in shares of Maplebear in the first quarter valued at about $235,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Maplebear by 60.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,120,740 shares of the company's stock valued at $44,706,000 after purchasing an additional 421,621 shares during the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.
About Maplebear
(
Get Free Report)
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.
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