Maplebear Inc. (NASDAQ:CART – Get Free Report) General Counsel Morgan Fong sold 8,345 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $333,800.00. Following the completion of the sale, the general counsel now directly owns 330,886 shares of the company’s stock, valued at approximately $13,235,440. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $41.38, for a total value of $454,848.96.
- On Monday, July 22nd, Morgan Fong sold 9,506 shares of Maplebear stock. The shares were sold at an average price of $35.02, for a total value of $332,900.12.
Maplebear Price Performance
NASDAQ:CART opened at $42.14 on Friday. The business has a fifty day simple moving average of $34.75 and a two-hundred day simple moving average of $34.70. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $42.58.
Wall Street Analyst Weigh In
CART has been the subject of several recent research reports. Benchmark reissued a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Citigroup increased their price target on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Wolfe Research started coverage on Maplebear in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Morgan Stanley upped their target price on Maplebear from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Maplebear presently has an average rating of “Moderate Buy” and a consensus price target of $42.81.
Read Our Latest Analysis on Maplebear
Hedge Funds Weigh In On Maplebear
Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Maplebear in the fourth quarter valued at $78,674,000. Vanguard Group Inc. boosted its stake in Maplebear by 239.1% during the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock valued at $7,961,000 after buying an additional 150,544 shares during the period. Assenagon Asset Management S.A. bought a new stake in Maplebear during the second quarter valued at $8,293,000. Investment House LLC bought a new stake in Maplebear during the second quarter valued at $750,000. Finally, GSA Capital Partners LLP bought a new stake in Maplebear during the first quarter valued at $1,673,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.
Maplebear Company Profile
Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.
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