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 stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the completion of the sale, the general counsel owned 386,643 shares of the company’s stock, valued at approximately $14,340,588.87. The trade was a 24.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

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

Maplebear Price Performance

Shares of Maplebear stock opened at $38.23 on Friday. The stock’s 50 day simple moving average is $38.00 and its 200-day simple moving average is $40.47. The stock has a market cap of $9.20 billion, a P/E ratio of 24.04, a P/E/G ratio of 0.58 and a beta of 0.98. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Stifel Nicolaus lowered their price objective on Maplebear from $49.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Maplebear in a research note on Monday, December 29th. Benchmark reduced their price target on Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Jefferies Financial Group boosted their price target on shares of Maplebear from $41.00 to $48.00 and gave the company a “hold” rating in a research report on Thursday, December 11th. Finally, Wells Fargo & Company dropped their price objective on shares of Maplebear from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, February 13th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $51.04.

Institutional Investors Weigh In On Maplebear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Viking Global Investors LP purchased a new stake in Maplebear in the second quarter valued at $169,782,000. Marshall Wace LLP acquired a new position in shares of Maplebear in the 4th quarter valued at $126,206,000. Holocene Advisors LP purchased a new position in shares of Maplebear during the 3rd quarter worth $90,167,000. Norges Bank acquired a new stake in shares of Maplebear during the 4th quarter worth about $97,221,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Maplebear by 114.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock worth $170,594,000 after purchasing an additional 2,026,567 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

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.