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

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $42.97, for a total value of $891,627.50. Following the transaction, the chief executive officer now directly owns 1,804,243 shares in the company, valued at $77,528,321.71. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 Stock Down 0.2 %

NASDAQ:CART traded down $0.10 during mid-day trading on Wednesday, hitting $43.44. 1,827,251 shares of the company traded hands, compared to its average volume of 4,001,942. The stock’s fifty day moving average price is $43.06 and its 200-day moving average price is $36.94. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 1.13 and a beta of 1.12. Maplebear Inc. has a one year low of $22.13 and a one year high of $50.01.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its holdings 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 worth $331,000 after buying an additional 286 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in Maplebear by 1.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after purchasing an additional 490 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Maplebear by 5.1% during the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock valued at $493,000 after purchasing an additional 584 shares in the last quarter. Pier Capital LLC increased its holdings in shares of Maplebear by 0.4% in the third quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock worth $6,176,000 after purchasing an additional 616 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear in the third quarter worth about $33,000. 63.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CART shares. BMO Capital Markets lifted their target price on shares of Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Wedbush lifted their price objective on Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Maplebear in a research note on Monday, October 7th. Stifel Nicolaus increased their price objective on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Benchmark reaffirmed a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and an average target price 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.