Maplebear (NASDAQ:CART) General Counsel Sells 126,083 Shares of Stock

Maplebear Inc. (NASDAQ:CART) General Counsel Morgan Fong sold 126,083 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the completion of the transaction, the general counsel directly owned 386,643 shares of the company’s stock, valued at $14,340,588.87. This represents a 24.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, December 22nd, Morgan Fong sold 4,914 shares of Maplebear stock. The shares were sold at an average price of $45.21, for a total transaction of $222,161.94.

Maplebear Trading Up 1.4%

NASDAQ:CART traded up $0.52 on Friday, hitting $38.23. 3,260,825 shares of the company’s stock traded hands, compared to its average volume of 5,501,509. The company has a market cap of $9.20 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 0.56 and a beta of 0.98. The firm has a 50-day moving average price of $38.12 and a 200-day moving average price of $40.52. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $53.50.

Institutional Trading of Maplebear

A number of institutional investors and hedge funds have recently modified their holdings of the company. Viking Global Investors LP acquired a new stake in Maplebear during the 2nd quarter valued at $169,782,000. Marshall Wace LLP acquired a new position in Maplebear in the fourth quarter worth $126,206,000. Holocene Advisors LP bought a new stake in shares of Maplebear during the third quarter worth $90,167,000. Norges Bank acquired a new stake in shares of Maplebear in the fourth quarter valued at $97,221,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Maplebear by 114.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock valued at $170,594,000 after buying an additional 2,026,567 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CART. Stifel Nicolaus cut their target price on shares of Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, January 27th. Weiss Ratings restated a “hold (c)” rating on shares of Maplebear in a research note on Monday, December 29th. Jefferies Financial Group lifted their price target on Maplebear from $41.00 to $48.00 and gave the stock a “hold” rating in a research report on Thursday, December 11th. Argus upgraded Maplebear to a “strong-buy” rating in a report on Thursday, March 5th. Finally, BNP Paribas Exane initiated coverage on shares of Maplebear in a research report on Wednesday, January 14th. They set an “underperform” rating and a $41.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Maplebear has an average rating of “Hold” and an average target price of $51.04.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.