Insider Selling: Maplebear Inc. (NASDAQ:CART) CFO Sells 10,000 Shares of Stock

Maplebear Inc. (NASDAQ:CART) CFO Nick Giovanni sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $36.97, for a total transaction of $369,700.00. Following the completion of the sale, the chief financial officer now directly owns 576,977 shares in the company, valued at $21,330,839.69. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Nick Giovanni also recently made the following trade(s):

• On Monday, March 11th, Nick Giovanni sold 900 shares of Maplebear stock. The shares were sold at an average price of $35.00, for a total transaction of $31,500.00.
• On Friday, March 8th, Nick Giovanni sold 5,000 shares of Maplebear stock. The shares were sold at an average price of $34.31, for a total transaction of $171,550.00.

Maplebear Stock Down 3.2 %

Shares of NASDAQ:CART traded down $1.17 during midday trading on Friday, hitting $35.23. The stock had a trading volume of 5,888,613 shares, compared to its average volume of 4,042,075. The stock has a 50 day moving average price of $34.25 and a two-hundred day moving average price of $28.16. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $42.95.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.52. The firm had revenue of $803.00 million during the quarter, compared to analysts’ expectations of $804.62 million. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that Maplebear Inc. will post 0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CART shares. Macquarie started coverage on shares of Maplebear in a research report on Monday, March 25th. They issued an “outperform” rating and a $42.00 price objective on the stock. Sanford C. Bernstein raised shares of Maplebear from a “market perform” rating to an “outperform” rating and increased their target price for the company from $30.00 to $43.00 in a research report on Thursday, March 14th. JPMorgan Chase & Co. increased their target price on shares of Maplebear from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. Loop Capital assumed coverage on shares of Maplebear in a research report on Friday. They issued a “buy” rating and a $46.00 target price on the stock. Finally, Robert W. Baird increased their target price on shares of Maplebear from $31.00 to $44.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.16.

Institutional Trading of Maplebear

A number of institutional investors have recently added to or reduced their stakes in CART. Parallel Advisors LLC boosted its holdings in Maplebear by 139.3% during the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after buying an additional 620 shares in the last quarter. Signaturefd LLC purchased a new stake in Maplebear during the third quarter worth about $30,000. Cantor Fitzgerald L. P. boosted its holdings in Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after buying an additional 2,489 shares in the last quarter. UBS Group AG purchased a new stake in Maplebear during the third quarter worth about $56,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Maplebear during the fourth quarter worth about $69,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

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.