Maplebear Inc. (NASDAQ:CART) CFO Sells $369,700.00 in Stock

Maplebear Inc. (NASDAQ:CART) CFO Nick Giovanni sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $36.97, for a total value of $369,700.00. Following the sale, the chief financial officer now owns 576,977 shares of the company’s stock, valued at approximately $21,330,839.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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 value 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 value of $171,550.00.

Maplebear Stock Performance

CART opened at $35.23 on Friday. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $42.95. The stock’s 50 day simple moving average is $34.42 and its 200-day simple moving average is $28.22.

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

Institutional Trading of Maplebear

A number of large investors have recently bought and sold shares of the stock. Sivia Capital Partners LLC bought a new stake in Maplebear in the first quarter valued at $369,000. Udine Wealth Management Inc. bought a new stake in Maplebear in the first quarter valued at $2,109,000. Ironwood Financial llc bought a new stake in Maplebear in the first quarter valued at $337,000. Hodges Capital Management Inc. bought a new stake in Maplebear in the first quarter valued at $6,211,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in Maplebear in the first quarter valued at $263,000. 63.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley assumed coverage on Maplebear in a research note on Tuesday, January 30th. They set an “equal weight” rating and a $28.00 target price on the stock. Fox Advisors cut Maplebear from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 1st. Benchmark lowered Maplebear from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Barclays lifted their price target on Maplebear from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Finally, Macquarie assumed coverage on Maplebear in a report on Monday, March 25th. They issued an “outperform” rating and a $42.00 target price for the company. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.16.

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.