Insider Selling: Maplebear Inc. (NASDAQ:CART) CEO Sells $280,840.00 in Stock

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $33.04, for a total value of $280,840.00. Following the transaction, the chief executive officer now owns 1,984,167 shares of the company’s stock, valued at approximately $65,556,877.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, June 12th, Fidji Simo sold 2,500 shares of Maplebear stock. The shares were sold at an average price of $33.81, for a total value of $84,525.00.
• On Wednesday, May 29th, Fidji Simo sold 6,000 shares of Maplebear stock. The shares were sold at an average price of $31.82, for a total value of $190,920.00.
• On Wednesday, May 1st, Fidji Simo sold 3,236 shares of Maplebear stock. The shares were sold at an average price of $35.09, for a total value of $113,551.24.
• On Monday, April 29th, Fidji Simo sold 13,206 shares of Maplebear stock. The stock was sold at an average price of $34.93, for a total transaction of $461,285.58.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $32.14 on Monday. The company has a 50 day simple moving average of $33.45 and a 200-day simple moving average of $31.13. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $42.95.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.39. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $794.08 million. The business’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts anticipate that Maplebear Inc. will post 1.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JMP Securities boosted their price objective on shares of Maplebear from $35.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 9th. Loop Capital upped their price target on Maplebear from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Wolfe Research upped their price target on Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Barclays upped their target price on Maplebear from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Finally, Oppenheimer upped their target price on Maplebear from $36.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Hedge Funds Weigh In On Maplebear

Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its position in Maplebear by 139.3% in the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after buying an additional 620 shares during the period. Cantor Fitzgerald L. P. lifted its position in shares of Maplebear by 389.5% during the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Maplebear during the 4th quarter worth $69,000. Amalgamated Bank purchased a new stake in shares of Maplebear during the 4th quarter worth $94,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Maplebear during the 4th quarter worth $110,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

About Maplebear

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.