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 firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 transaction of $886,855.00.

Maplebear Stock Up 0.9 %

NASDAQ:CART opened at $41.09 on Monday. The company has a fifty day moving average of $46.43 and a 200-day moving average of $42.88. The firm has a market capitalization of $10.56 billion, a P/E ratio of 27.58, a P/E/G ratio of 1.19 and a beta of 1.07. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44.

Maplebear (NASDAQ:CART) last released 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 company had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. On average, analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp raised its holdings in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear in the third quarter worth approximately $33,000. Allworth Financial LP lifted its holdings in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after buying an additional 717 shares during the last quarter. Finally, Anderson Financial Strategies LLC bought a new stake in Maplebear during the fourth quarter worth $46,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CART shares. Loop Capital lifted their target price on shares of Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Morgan Stanley lifted their target price on shares of Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Maplebear in a research report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 target price on the stock. Mizuho cut their target price on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, BMO Capital Markets lifted their target price on shares of Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Thirteen 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.92.

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.