Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo Sells 2,033 Shares

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 2,033 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares of the company’s stock, valued at approximately $66,182,360. The trade was a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, February 26th, Fidji Simo sold 20,750 shares of Maplebear stock. The shares were sold at an average price of $43.31, for a total transaction of $898,682.50.

Maplebear Stock Down 1.0 %

NASDAQ CART traded down $0.42 on Wednesday, hitting $39.74. The stock had a trading volume of 3,152,121 shares, compared to its average volume of 3,883,920. The company’s 50-day moving average is $45.43 and its two-hundred day moving average is $43.24. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 1.19 and a beta of 1.34.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. On average, sell-side analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Institutional Investors Weigh In On Maplebear

Several institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp raised its position in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after buying an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear during the third quarter valued at approximately $33,000. Allworth Financial LP raised its holdings in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after purchasing an additional 420 shares in the last quarter. NewEdge Advisors LLC lifted its position in Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after purchasing an additional 717 shares during the period. Finally, Anderson Financial Strategies LLC bought a new position in Maplebear during the 4th quarter valued at $46,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

CART has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Maplebear in a research report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 target price on the stock. Bank of America upped their target price on Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Morgan Stanley increased their target price on Maplebear from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Stifel Nicolaus lifted their price target on shares of Maplebear from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, Barclays increased their price objective on shares of Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.52.

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.