Maplebear Inc. (NASDAQ:CART – Get Free Report) General Counsel Morgan Fong sold 11,325 shares of Maplebear stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $42.97, for a total value of $486,635.25. Following the sale, the general counsel now owns 287,659 shares in the company, valued at $12,360,707.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Morgan Fong also recently made the following trade(s):
- On Friday, September 20th, Morgan Fong sold 10,992 shares of Maplebear stock. The shares were sold at an average price of $41.38, for a total value of $454,848.96.
- On Wednesday, September 18th, Morgan Fong sold 8,345 shares of Maplebear stock. The shares were sold at an average price of $40.00, for a total value of $333,800.00.
Maplebear Price Performance
Shares of Maplebear stock opened at $43.83 on Thursday. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $45.13. The company has a market capitalization of $11.60 billion and a P/E ratio of -2.21. The business has a 50 day moving average price of $38.51 and a 200 day moving average price of $35.55.
Wall Street Analyst Weigh In
CART has been the topic of a number of analyst reports. Citigroup lifted their price objective on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Bank of America lifted their price objective on Maplebear from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Macquarie lifted their price objective on Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Finally, KeyCorp initiated coverage on Maplebear in a report on Thursday, July 11th. They issued a “sector weight” rating on the stock. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.10.
Get Our Latest Stock Report on CART
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of CART. Counterpoint Mutual Funds LLC acquired a new position in Maplebear in the 1st quarter valued at $263,000. Hodges Capital Management Inc. acquired a new position in Maplebear in the 1st quarter valued at $6,211,000. Ironwood Financial llc acquired a new position in Maplebear in the 1st quarter valued at $337,000. Udine Wealth Management Inc. acquired a new position in Maplebear in the 1st quarter valued at $2,109,000. Finally, Sivia Capital Partners LLC acquired a new position in Maplebear in the 1st quarter valued at $369,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.
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.
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