Morgan Fong Sells 126,083 Shares of Maplebear (NASDAQ:CART) Stock

Maplebear Inc. (NASDAQ:CART) General Counsel Morgan Fong sold 126,083 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total value of $4,676,418.47. Following the completion of the transaction, the general counsel owned 386,643 shares in the company, valued at approximately $14,340,588.87. This trade represents a 24.59% decrease in their position. The transaction was disclosed in a filing 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 value of $222,161.94.

Maplebear Stock Performance

Shares of CART stock traded up $0.52 during mid-day trading on Friday, reaching $38.23. 3,260,825 shares of the company were exchanged, compared to its average volume of 5,501,509. The business’s 50 day simple moving average is $38.12 and its 200 day simple moving average is $40.52. The company has a market capitalization of $9.20 billion, a P/E ratio of 24.04, a P/E/G ratio of 0.56 and a beta of 0.98. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50.

Institutional Trading of Maplebear

A number of large investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC bought a new stake in shares of Maplebear during the 4th quarter worth $912,000. Pacer Advisors Inc. raised its holdings in Maplebear by 43.6% during the 4th quarter. Pacer Advisors Inc. now owns 1,128,151 shares of the company’s stock worth $50,744,000 after buying an additional 342,283 shares during the period. Compound Planning Inc. lifted its stake in Maplebear by 2.8% during the fourth quarter. Compound Planning Inc. now owns 19,347 shares of the company’s stock valued at $870,000 after buying an additional 523 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Maplebear by 11.2% in the fourth quarter. Invesco Ltd. now owns 1,777,389 shares of the company’s stock worth $79,947,000 after buying an additional 179,459 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Maplebear in the fourth quarter worth approximately $1,206,000. 63.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CART. BNP Paribas Exane assumed coverage on Maplebear in a research report on Wednesday, January 14th. They set an “underperform” rating and a $41.00 price target on the stock. Fox Advisors cut Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Argus upgraded Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Needham & Company LLC boosted their price target on shares of Maplebear from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 13th. Finally, Wells Fargo & Company reduced their target price on shares of Maplebear from $47.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.