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

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the transaction, the chief executive officer now owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. The trade was a 1.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, December 18th, Fidji Simo sold 20,750 shares of Maplebear stock. The stock was sold at an average price of $42.74, for a total value of $886,855.00.

Maplebear Stock Performance

Maplebear stock traded up $0.35 during midday trading on Friday, hitting $41.09. 5,558,472 shares of the company’s stock were exchanged, compared to its average volume of 4,521,604. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The stock has a 50-day moving average price of $46.45 and a two-hundred day moving average price of $42.66. The company has a market cap of $10.56 billion, a P/E ratio of 27.58, a PEG ratio of 1.19 and a beta of 1.07.

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

Institutional Investors Weigh In On Maplebear

Several hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Maplebear by 3.7% during the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after purchasing an additional 286 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after acquiring an additional 420 shares during the last quarter. WCG Wealth Advisors LLC lifted its stake in shares of Maplebear by 3.3% in the 4th quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock valued at $590,000 after acquiring an additional 451 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in shares of Maplebear by 1.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock valued at $1,294,000 after acquiring an additional 490 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $55.00 price target on shares of Maplebear in a report on Wednesday. Robert W. Baird increased their price target on Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Mizuho dropped their target price on Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday. Loop Capital raised their target price on Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Stifel Nicolaus raised their target price on Maplebear from $56.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.92.

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.