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

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the sale, the chief executive officer now directly owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 Trading Up 0.9 %

NASDAQ CART traded up $0.35 during midday trading on Friday, hitting $41.09. The company had a trading volume of 5,558,472 shares, compared to its average volume of 4,521,604. The company has a market capitalization of $10.56 billion, a PE ratio of 27.58, a P/E/G ratio of 1.19 and a beta of 1.07. The firm has a 50-day moving average price of $46.45 and a 200-day moving average price of $42.66. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Loop Capital raised their price target on Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. dropped their price target on Maplebear from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday. Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Barclays lifted their target price on Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Piper Sandler lifted their target price on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.92.

Institutional Trading of Maplebear

Several institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. increased its holdings in Maplebear by 11,501.2% in the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock worth $187,495,000 after purchasing an additional 4,487,654 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Maplebear in the third quarter valued at about $158,701,000. Boston Partners acquired a new stake in shares of Maplebear in the fourth quarter valued at about $111,506,000. Altimeter Capital Management LP acquired a new stake in shares of Maplebear in the fourth quarter valued at about $105,108,000. Finally, Vanguard Group Inc. increased its stake in shares of Maplebear by 16.8% in the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock valued at $661,409,000 after buying an additional 2,300,288 shares during the period. 63.09% of the stock is currently 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.