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 company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the sale, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, November 25th, Fidji Simo sold 20,750 shares of Maplebear stock. The stock was sold at an average price of $42.97, for a total transaction of $891,627.50.
• On Tuesday, October 29th, Fidji Simo sold 20,750 shares of Maplebear stock. The stock was sold at an average price of $44.39, for a total value of $921,092.50.

Maplebear Trading Down 0.1 %

Shares of NASDAQ:CART opened at $42.02 on Friday. The stock has a fifty day simple moving average of $43.70 and a two-hundred day simple moving average of $38.24. Maplebear Inc. has a 12-month low of $22.13 and a 12-month high of $50.01. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 1.08 and a beta of 0.94.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same quarter in the previous year, the firm earned ($20.86) EPS. Maplebear’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts predict that Maplebear Inc. will post 1.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CART. Bank of New York Mellon Corp raised its holdings in Maplebear by 936.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 489,761 shares of the company’s stock worth $15,741,000 after acquiring an additional 442,517 shares during the last quarter. State of Michigan Retirement System purchased a new position in shares of Maplebear in the second quarter worth $484,000. Atomi Financial Group Inc. bought a new position in shares of Maplebear during the second quarter valued at $637,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Maplebear during the second quarter valued at $498,000. Finally, Eos Management L.P. bought a new stake in Maplebear in the 2nd quarter worth about $511,000. Institutional investors own 63.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CART. Deutsche Bank Aktiengesellschaft initiated coverage on Maplebear in a research report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price target on the stock. JMP Securities lifted their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Oppenheimer increased their price target on shares of Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC restated a “hold” rating on shares of Maplebear in a research report on Wednesday, November 13th. Finally, Robert W. Baird increased their target price on shares of Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.14.

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.