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

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $42.97, for a total transaction of $891,627.50. Following the sale, the chief executive officer now directly owns 1,804,243 shares in the company, valued at approximately $77,528,321.71. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 transaction of $921,092.50.

Maplebear Trading Down 0.2 %

Shares of CART traded down $0.10 during mid-day trading on Wednesday, reaching $43.44. The company’s stock had a trading volume of 1,827,251 shares, compared to its average volume of 4,001,942. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $50.01. The company’s fifty day moving average price is $43.06 and its two-hundred day moving average price is $36.94. The stock has a market cap of $11.16 billion, a PE ratio of 29.22, a P/E/G ratio of 1.13 and a beta of 1.12.

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

Institutional Investors Weigh In On Maplebear

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Maplebear by 239.1% in the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock valued at $7,961,000 after purchasing an additional 150,544 shares during the last quarter. Industry Ventures L.L.C. raised its holdings in Maplebear by 3.3% during the 2nd quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock valued at $31,512,000 after buying an additional 31,175 shares during the last quarter. Renaissance Capital LLC raised its holdings in Maplebear by 952.3% during the 2nd quarter. Renaissance Capital LLC now owns 154,604 shares of the company’s stock valued at $4,969,000 after buying an additional 139,912 shares during the last quarter. Diversified Trust Co purchased a new stake in Maplebear during the 2nd quarter valued at $327,000. Finally, Great Valley Advisor Group Inc. grew its holdings in Maplebear by 32.1% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,300 shares of the company’s stock worth $331,000 after acquiring an additional 2,500 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CART shares. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a research note on Wednesday, November 13th. Raymond James began coverage on Maplebear in a research note on Tuesday, September 24th. They set a “market perform” rating on the stock. Bank of America increased their price objective on Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Maplebear in a report on Monday, October 7th. Finally, Barclays raised their price objective on shares of Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.29.

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.