Insider Selling: Maplebear Inc. (NASDAQ:CART) General Counsel Sells 4,680 Shares of Stock

Maplebear Inc. (NASDAQ:CART - Get Free Report) General Counsel Morgan Fong sold 4,680 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $49.16, for a total value of $230,068.80. Following the sale, the general counsel owned 452,000 shares in the company, valued at approximately $22,220,320. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, June 20th, Morgan Fong sold 4,680 shares of Maplebear stock. The shares were sold at an average price of $43.90, for a total value of $205,452.00.

Maplebear Price Performance

CART stock traded down $1.43 on Friday, reaching $48.41. 3,161,810 shares of the company traded hands, compared to its average volume of 2,966,885. The firm has a fifty day simple moving average of $46.41 and a 200-day simple moving average of $44.51. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The company has a market cap of $12.71 billion, a P/E ratio of 31.85, a price-to-earnings-growth ratio of 2.04 and a beta of 1.21.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly 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 firm had revenue of $897.00 million during the quarter, compared to analysts' expectations of $896.86 million. Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share. On average, sell-side analysts forecast that Maplebear Inc. will post 1.43 EPS for the current year.

Institutional Investors Weigh In On Maplebear

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC grew its position in Maplebear by 35.1% in the first quarter. CWM LLC now owns 1,058 shares of the company's stock worth $42,000 after acquiring an additional 275 shares in the last quarter. Signaturefd LLC raised its stake in Maplebear by 27.1% in the first quarter. Signaturefd LLC now owns 1,335 shares of the company's stock worth $53,000 after buying an additional 285 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Maplebear by 0.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 75,161 shares of the company's stock worth $3,546,000 after buying an additional 315 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Maplebear by 1.3% during the second quarter. Parallel Advisors LLC now owns 25,845 shares of the company's stock worth $1,169,000 after purchasing an additional 321 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Maplebear by 18.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock worth $82,000 after purchasing an additional 322 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on CART shares. Wall Street Zen lowered Maplebear from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Robert W. Baird upped their price objective on Maplebear from $47.00 to $52.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Loop Capital upped their price objective on Maplebear from $52.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Wells Fargo & Company dropped their target price on Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Finally, Jefferies Financial Group increased their target price on Maplebear from $48.00 to $50.00 and gave the company a "hold" rating in a report on Tuesday, May 27th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.30.

About Maplebear

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.