Insider Selling: Maplebear Inc. (NASDAQ:CART) CEO Sells $898,682.50 in Stock

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the sale, the chief executive officer now directly owns 1,662,692 shares in the company, valued at $72,011,190.52. This trade represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 %

CART stock opened at $41.09 on Monday. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The firm has a market cap 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. The company’s 50-day moving average price is $46.43 and its two-hundred day moving average price is $42.88.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Equities analysts predict that Maplebear Inc. will post 1.43 EPS for the current year.

Hedge Funds Weigh In On Maplebear

Several hedge funds have recently bought and sold shares of CART. Jones Financial Companies Lllp increased its holdings in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after buying an additional 222 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Maplebear in the 3rd quarter valued at about $33,000. Allworth Financial LP increased its holdings in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after buying an additional 420 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after purchasing an additional 717 shares in the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Maplebear in the 4th quarter valued at approximately $46,000. 63.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on CART. Macquarie upped their price target on shares of Maplebear from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday. BMO Capital Markets upped their price target 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. Robert W. Baird upped their price target on shares of Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Maplebear in a report on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective on the stock. Finally, Benchmark reissued a “hold” rating on shares of Maplebear in a research report on Wednesday, February 26th. Thirteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.