Maplebear Inc. (NASDAQ:CART) CEO Sells $81,320.00 in Stock

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 2,033 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the transaction, the chief executive officer now directly owns 1,654,559 shares in the company, valued at $66,182,360. The trade was a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Performance

Shares of CART opened at $38.90 on Friday. The company’s fifty day moving average is $45.10 and its 200 day moving average is $43.21. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The stock has a market capitalization of $10.29 billion, a PE ratio of 26.11, a P/E/G ratio of 1.19 and a beta of 1.34.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on CART. Stifel Nicolaus increased their price target on shares of Maplebear from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $55.00 price objective on shares of Maplebear in a research note on Wednesday, February 26th. Seaport Res Ptn upgraded shares of Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Needham & Company LLC restated a “buy” rating and set a $56.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Finally, Oppenheimer decreased their price objective on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.52.

Institutional Investors Weigh In On Maplebear

Several large investors have recently added to or reduced their stakes in CART. Wealth Enhancement Advisory Services LLC bought a new position in shares of Maplebear during the 4th quarter valued at approximately $3,086,000. Mackenzie Financial Corp increased its position in Maplebear by 559.1% during the fourth quarter. Mackenzie Financial Corp now owns 162,111 shares of the company’s stock valued at $6,715,000 after acquiring an additional 137,514 shares during the last quarter. Cache Advisors LLC bought a new position in Maplebear during the fourth quarter valued at $304,000. WCG Wealth Advisors LLC increased its position in Maplebear by 3.3% during the fourth 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, Public Employees Retirement System of Ohio grew its holdings in Maplebear by 69.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 111,116 shares of the company’s stock valued at $4,602,000 after purchasing an additional 45,458 shares during the last quarter. 63.09% of the stock is owned by institutional investors.

About Maplebear

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.