Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo Sells 20,750 Shares

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the sale, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Fidji Simo also recently made the following trade(s):

• On Monday, November 25th, Fidji Simo sold 20,750 shares of Maplebear stock. The shares were sold at an average price of $42.97, for a total transaction of $891,627.50.
• On Tuesday, October 29th, Fidji Simo sold 20,750 shares of Maplebear stock. The shares were sold at an average price of $44.39, for a total value of $921,092.50.

Maplebear Trading Down 0.1 %

Shares of CART opened at $42.02 on Friday. The company’s fifty day simple moving average is $43.70 and its 200 day simple moving average is $38.18. The company has a market cap of $10.79 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 1.08 and a beta of 0.94. Maplebear Inc. has a 1-year low of $22.13 and a 1-year high of $50.01.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. During the same quarter last year, the company posted ($20.86) EPS. Maplebear’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, research analysts forecast that Maplebear Inc. will post 1.4 earnings per share for the current year.

Institutional Investors Weigh In On Maplebear

A number of institutional investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in shares of Maplebear in the third quarter worth $33,000. Huntington National Bank bought a new stake in shares of Maplebear during the third quarter worth about $54,000. nVerses Capital LLC increased its position in Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after acquiring an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Maplebear during the 3rd quarter worth about $74,000. Finally, Quarry LP boosted its holdings in Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after acquiring an additional 2,865 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CART. Raymond James started coverage on Maplebear in a research report on Tuesday, September 24th. They issued a “market perform” rating for the company. JMP Securities increased their price target on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Morgan Stanley cut their price objective on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their target price on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Bank of America upped their price target on Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Thirteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Maplebear currently has an average rating of “Moderate Buy” and a consensus target price of $47.14.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.