Maplebear Inc.’s (NASDAQ:CART) Lock-Up Period To Expire on March 18th

Maplebear’s (NASDAQ:CARTGet Free Report) lock-up period will end on Monday, March 18th. Maplebear had issued 22,000,000 shares in its public offering on September 19th. The total size of the offering was $660,000,000 based on an initial share price of $30.00. After the expiration of Maplebear’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

CART has been the subject of several recent research reports. BMO Capital Markets initiated coverage on Maplebear in a research note on Tuesday, January 9th. They issued a “market perform” rating and a $26.00 price target for the company. Wolfe Research raised their price target on Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Benchmark cut shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Wedbush reduced their price objective on shares of Maplebear from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 27th. Finally, Barclays upped their target price on Maplebear from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and an average price target of $35.06.

View Our Latest Analysis on Maplebear

Maplebear Stock Up 0.2 %

NASDAQ CART opened at $35.80 on Monday. Maplebear has a one year low of $22.13 and a one year high of $42.95. The business’s 50 day simple moving average is $28.11.

Maplebear (NASDAQ:CARTGet Free Report) last issued 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 business had revenue of $803.00 million for the quarter, compared to analyst estimates of $804.62 million. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts predict that Maplebear will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Nick Giovanni sold 900 shares of Maplebear stock in a transaction on Monday, March 11th. The stock was sold at an average price of $35.00, for a total transaction of $31,500.00. Following the sale, the chief financial officer now directly owns 591,077 shares in the company, valued at $20,687,695. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jeffrey D. Jordan sold 760,479 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $26.01, for a total transaction of $19,780,058.79. Following the transaction, the director now owns 20,783 shares of the company’s stock, valued at approximately $540,565.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Nick Giovanni sold 900 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $35.00, for a total transaction of $31,500.00. Following the sale, the chief financial officer now directly owns 591,077 shares in the company, valued at $20,687,695. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 2,157,745 shares of company stock valued at $61,771,955 and have sold 876,692 shares valued at $23,769,172. Insiders own 4.02% of the company’s stock.

Hedge Funds Weigh In On Maplebear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CART. SC US Ttgp LTD. bought a new position in shares of Maplebear in the third quarter worth approximately $1,180,490,000. KPCB DGF II Associates LLC bought a new position in shares of Maplebear in the 3rd quarter worth $119,544,000. Canaan Partners IX LLC purchased a new stake in shares of Maplebear during the 4th quarter valued at $87,508,000. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST bought a new stake in shares of Maplebear during the 3rd quarter worth $105,469,000. Finally, Norges Bank purchased a new position in Maplebear in the fourth quarter worth $78,674,000.

Maplebear Company Profile

(Get Free Report)

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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