Maplebear (NASDAQ:CART) Director Sells $337,722.00 in Stock

Maplebear Inc. (NASDAQ:CART) Director Fidji Simo sold 7,140 shares of Maplebear stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.30, for a total transaction of $337,722.00. Following the completion of the transaction, the director directly owned 573,807 shares in the company, valued at approximately $27,141,071.10. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, July 23rd, Fidji Simo sold 6,640 shares of Maplebear stock. The stock was sold at an average price of $50.00, for a total transaction of $332,000.00.
• On Tuesday, July 22nd, Fidji Simo sold 66,560 shares of Maplebear stock. The stock was sold at an average price of $50.01, for a total transaction of $3,328,665.60.
• On Monday, July 14th, Fidji Simo sold 14,233 shares of Maplebear stock. The stock was sold at an average price of $47.86, for a total transaction of $681,191.38.

Maplebear Stock Up 1.2%

NASDAQ:CART opened at $45.40 on Friday. The firm’s fifty day simple moving average is $46.59 and its 200 day simple moving average is $44.15. The stock has a market cap of $11.96 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. Maplebear Inc. has a twelve month low of $35.14 and a twelve month high of $53.50.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $914.00 million for the quarter, compared to the consensus estimate of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 EPS. On average, analysts expect that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on CART shares. Jefferies Financial Group raised their price objective on shares of Maplebear from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, August 11th. Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Morgan Stanley raised their price objective on shares of Maplebear from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Friday, August 15th. BTIG Research dropped their target price on shares of Maplebear from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, JMP Securities boosted their target price on shares of Maplebear from $55.00 to $60.00 and gave the company a “market outperform” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and an average target price of $55.58.

Institutional Trading of Maplebear

A number of hedge funds have recently modified their holdings of CART. Securian Asset Management Inc. boosted its stake in Maplebear by 2.1% in the 2nd quarter. Securian Asset Management Inc. now owns 12,509 shares of the company’s stock worth $566,000 after purchasing an additional 252 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Maplebear by 9.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after purchasing an additional 261 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in Maplebear by 2.5% in the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after purchasing an additional 273 shares in the last quarter. CWM LLC boosted its stake in Maplebear by 35.1% in the 1st quarter. CWM LLC now owns 1,058 shares of the company’s stock worth $42,000 after purchasing an additional 275 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Maplebear by 27.1% in the 1st quarter. Signaturefd LLC now owns 1,335 shares of the company’s stock worth $53,000 after purchasing an additional 285 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

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.