Key Points
- Morgan Fong, Maplebear's General Counsel, sold 4,914 shares on Dec. 22 at an average price of $45.21 for roughly $222,162, trimming her stake by about 1.2% to 404,940 shares valued near $18.3M.
- Maplebear stopped AI-driven item price tests after reports of price discrepancies; investors largely shrugged off the controversy, treating it as a near-term headwind rather than a lasting business threat.
- The company slightly beat Q3 estimates with $0.51 EPS (vs. $0.50 expected) and revenue of $939M, up 10.2% year-over-year, supporting a consensus "Moderate Buy" and an average target around $52.21.
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Maplebear Inc. (NASDAQ:CART - Get Free Report) General Counsel Morgan Fong sold 4,914 shares of the company's stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $45.21, for a total transaction of $222,161.94. Following the sale, the general counsel directly owned 404,940 shares in the company, valued at approximately $18,307,337.40. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Morgan Fong also recently made the following trade(s):
- On Monday, October 20th, Morgan Fong sold 3,546 shares of Maplebear stock. The shares were sold at an average price of $38.85, for a total transaction of $137,762.10.
Maplebear Stock Up 0.0%
NASDAQ:CART opened at $45.03 on Wednesday. Maplebear Inc. has a 52 week low of $34.78 and a 52 week high of $53.50. The company has a fifty day simple moving average of $40.96 and a two-hundred day simple moving average of $43.51. The company has a market cap of $11.82 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.47 and a beta of 1.01.
Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $939.00 million for the quarter, compared to analysts' expectations of $933.76 million. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.42 earnings per share. On average, analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.
Key Stores Impacting Maplebear
Here are the key news stories impacting Maplebear this week:
- Positive Sentiment: Investors shrugged off the pricing controversy and the stock rebounded on views that the issue is a near-term headwind rather than a long-term business threat; market commentary emphasizes Instacart’s growth potential and margin outlook as reasons for the bounce. Instacart’s Pricing Tests Spark Backlash... But Investors Didn't Care
- Neutral Sentiment: Maplebear announced it will stop all AI-driven item price tests after reports showed price discrepancies for identical items; stopping the program reduces regulatory and reputational risk but could limit a potential revenue/optimization lever. Instacart ends AI-driven price experiments after criticism (Reuters)
- Negative Sentiment: Insider sale — General Counsel Morgan Fong sold 4,914 shares at ~$45.21, reducing ownership by ~1.20% for that holder; the sale is disclosed in an SEC filing and may be viewed negatively by some investors, though the size is modest relative to total insider holdings. SEC Form 4 — Insider Sale
Hedge Funds Weigh In On Maplebear
Several hedge funds have recently added to or reduced their stakes in CART. Hantz Financial Services Inc. lifted its position in shares of Maplebear by 78.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company's stock worth $32,000 after buying an additional 389 shares during the last quarter. Allworth Financial LP lifted its position in Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company's stock valued at $34,000 after acquiring an additional 244 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Maplebear in the first quarter valued at $40,000. Abich Financial Wealth Management LLC acquired a new position in Maplebear in the third quarter valued at $43,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock worth $43,000 after purchasing an additional 787 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CART has been the subject of a number of analyst reports. Guggenheim assumed coverage on Maplebear in a research report on Wednesday, October 15th. They set a "neutral" rating and a $40.00 price objective for the company. BTIG Research reiterated a "neutral" rating and issued a $55.00 price target on shares of Maplebear in a research note on Tuesday, September 30th. BMO Capital Markets upgraded shares of Maplebear from a "market perform" rating to an "outperform" rating and set a $58.00 price target for the company in a report on Tuesday, November 11th. Piper Sandler downgraded shares of Maplebear from an "overweight" rating to a "neutral" rating and set a $41.00 price objective on the stock. in a research report on Friday, October 3rd. Finally, Mizuho assumed coverage on shares of Maplebear in a report on Tuesday, September 30th. They issued a "neutral" rating and a $45.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $52.21.
Check Out Our Latest Report on Maplebear
Maplebear Company Profile
(
Get Free Report)
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.
Further Reading
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