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

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction on Monday, March 17th. The stock was 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 of the company’s stock, valued at approximately $66,182,360. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 value of $898,682.50.

Maplebear Price Performance

CART stock traded down $0.42 during trading on Wednesday, reaching $39.74. 3,152,121 shares of the stock traded hands, compared to its average volume of 3,883,920. The business’s 50 day moving average price is $45.43 and its 200-day moving average price is $43.24. The firm has a market capitalization of $10.52 billion, a PE ratio of 26.67, a P/E/G ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44.

Maplebear (NASDAQ:CART) last posted its earnings results 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 net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. On average, equities research analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CART. Stifel Nicolaus increased their price objective on shares of Maplebear from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Wells Fargo & Company initiated coverage on shares of Maplebear in a research report on Friday, January 10th. They issued an “equal weight” rating and a $47.00 price target on the stock. Mizuho cut their price objective on Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. BMO Capital Markets increased their target price on Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their price target on Maplebear from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Thirteen equities research 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 a consensus rating of “Moderate Buy” and a consensus price target of $50.52.

Institutional Investors Weigh In On Maplebear

Several large investors have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its position in Maplebear by 6.1% during the 3rd quarter. Victory Capital Management Inc. now owns 39,019 shares of the company’s stock worth $1,590,000 after purchasing an additional 2,234 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Maplebear by 5.1% in the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock worth $493,000 after buying an additional 584 shares during the period. Huntington National Bank purchased a new stake in shares of Maplebear in the third quarter worth about $54,000. CIBC Asset Management Inc grew its stake in shares of Maplebear by 3.7% in the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock valued at $331,000 after buying an additional 286 shares in the last quarter. Finally, Carlyle Group Inc. purchased a new stake in shares of Maplebear during the 3rd quarter valued at about $558,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

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.