Maplebear (NASDAQ:CART) Stock: Insider Morgan Fong Sells 18,390 Shares

Maplebear Inc. (NASDAQ:CART - Get Free Report) insider Morgan Fong sold 18,390 shares of the business's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $44.98, for a total value of $827,182.20. Following the completion of the transaction, the insider directly owned 529,911 shares of the company's stock, valued at approximately $23,835,396.78. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 24th, Morgan Fong sold 18,390 shares of Maplebear stock. The shares were sold at an average price of $49.96, for a total value of $918,764.40.

Maplebear Price Performance

CART opened at $43.26 on Friday. The firm has a market capitalization of $10.01 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 0.86 and a beta of 0.80. The business's 50-day moving average is $47.64 and its two-hundred day moving average is $43.77. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $52.68.

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Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.09). Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business posted $0.41 earnings per share. The firm's quarterly revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts expect that Maplebear Inc. will post 2.33 EPS for the current year.

More Maplebear News

Here are the key news stories impacting Maplebear this week:

• Positive Sentiment: Expanded delivery network: Maplebear is expanding same-day delivery to approximately 20,000 stores, potentially increasing order volume, customer reach and marketplace revenue. Maplebear Expands Same Day Delivery To 20,000 Stores
• Positive Sentiment: Dollar General partnership: Instacart and Dollar General announced same-day delivery of everyday essentials through the Instacart app and website. The agreement broadens Maplebear’s retail presence beyond traditional grocery and could support transaction growth. Instacart and Dollar General Partner to Deliver Everyday Essentials
• Positive Sentiment: Additional AI distribution channel: Instacart has partnered with Meta’s AI shopping agent, Muse. The relationship could help expose Instacart’s fulfillment network to more shoppers and preserve its role in AI-enabled commerce. Instacart Adds Another AI Partner to the List: Meta’s Muse
• Neutral Sentiment: Short-interest data: A report listed short interest at zero shares and a zero-day days-to-cover ratio. If accurate, this indicates limited reported short positioning, but the figure appears unusual and may have limited usefulness for assessing near-term trading pressure.
• Negative Sentiment: AI competition concerns: Meta’s Muse is raising questions about whether AI shopping agents could eventually reduce consumers’ reliance on Instacart’s app and weaken its position as the customer interface for online grocery orders. Meta’s Muse Puts Instacart’s Grocery Empire on Notice
• Negative Sentiment: Insider selling: Morgan Fong sold 18,390 shares worth approximately $827,000, reducing the position by 3.35%. The sale occurred under a pre-arranged Rule 10b5-1 plan, making it a relatively weak bearish signal, but it may still add modest selling-pressure concerns. Maplebear Insider Sale SEC Filing

Institutional Inflows and Outflows

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A number of hedge funds have recently modified their holdings of the company. Sequoia Financial Advisors LLC purchased a new position in shares of Maplebear in the second quarter worth about $333,000. WINTON GROUP Ltd raised its position in Maplebear by 368.1% during the 2nd quarter. WINTON GROUP Ltd now owns 136,409 shares of the company's stock worth $6,459,000 after buying an additional 107,271 shares during the last quarter. Engineers Gate Manager LP lifted its stake in Maplebear by 13.9% during the 2nd quarter. Engineers Gate Manager LP now owns 53,353 shares of the company's stock valued at $2,526,000 after acquiring an additional 6,509 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Maplebear in the second quarter worth $70,000. Finally, Nykredit A S purchased a new position in shares of Maplebear during the second quarter worth $330,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CART. Wells Fargo & Company upped their price target on Maplebear from $47.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Maplebear in a research report on Friday, August 7th. Wall Street Zen downgraded Maplebear from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Cantor Fitzgerald boosted their price target on Maplebear from $56.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, Barclays lifted their target price on shares of Maplebear from $69.00 to $77.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $56.14.

Read Our Latest Report on Maplebear

About Maplebear

(Get Free Report)

Maplebear Inc, doing business as Instacart, operates an online grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can browse products from participating grocery stores, place orders for delivery or pickup, and receive updates throughout the shopping and fulfillment process.

The company provides retailers with technology and services supporting e-commerce, fulfillment, customer engagement and digital advertising.

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