Maplebear Inc. (NASDAQ:CART – Get Free Report) General Counsel Morgan Fong sold 11,325 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $42.97, for a total transaction of $486,635.25. Following the completion of the transaction, the general counsel now owns 287,659 shares in the company, valued at approximately $12,360,707.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Morgan Fong also recently made the following trade(s):
- On Friday, September 20th, Morgan Fong sold 10,992 shares of Maplebear stock. The stock was sold at an average price of $41.38, for a total transaction of $454,848.96.
- On Wednesday, September 18th, Morgan Fong sold 8,345 shares of Maplebear stock. The stock was sold at an average price of $40.00, for a total value of $333,800.00.
Maplebear Trading Down 0.3 %
CART traded down $0.15 on Wednesday, hitting $43.83. 1,936,297 shares of the stock traded hands, compared to its average volume of 3,990,633. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $45.13. The firm has a market capitalization of $11.60 billion and a PE ratio of -2.22. The business has a fifty day moving average price of $38.27 and a two-hundred day moving average price of $35.49.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Raymond James assumed coverage on shares of Maplebear in a research report on Tuesday, September 24th. They issued a “market perform” rating for the company. Macquarie boosted their price target on Maplebear from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Bank of America raised their price target on Maplebear from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. KeyCorp initiated coverage on shares of Maplebear in a research note on Thursday, July 11th. They set a “sector weight” rating on the stock. Finally, Citigroup increased their target price on shares of Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and an average target price of $43.10.
Check Out Our Latest Report on Maplebear
Institutional Trading of Maplebear
Several institutional investors have recently bought and sold shares of the stock. Sculptor Capital LP acquired a new position in Maplebear during the second quarter worth $77,361,000. Federated Hermes Inc. increased its position in shares of Maplebear by 102.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock worth $55,739,000 after purchasing an additional 876,439 shares in the last quarter. Industry Ventures L.L.C. lifted its holdings in Maplebear by 3.3% during the 2nd quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock valued at $31,512,000 after purchasing an additional 31,175 shares during the last quarter. SG Americas Securities LLC acquired a new position in Maplebear in the first quarter valued at about $31,109,000. Finally, Lord Abbett & CO. LLC bought a new stake in Maplebear during the first quarter worth about $28,674,000. Institutional investors and hedge funds own 63.09% of the company’s stock.
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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