Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo Sells 8,133 Shares

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 8,133 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $41.60, for a total transaction of $338,332.80. Following the transaction, the chief executive officer now owns 1,646,426 shares of the company’s stock, valued at approximately $68,491,321.60. This represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, March 17th, Fidji Simo sold 2,033 shares of Maplebear stock. The shares were sold at an average price of $40.00, for a total value of $81,320.00.
• On Wednesday, February 26th, Fidji Simo sold 20,750 shares of Maplebear stock. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50.

Maplebear Stock Performance

NASDAQ:CART opened at $42.99 on Friday. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The business’s fifty day moving average is $42.12 and its 200 day moving average is $43.49. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.19 and a beta of 1.20.

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

Institutional Investors Weigh In On Maplebear

A number of institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its stake in Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock worth $187,495,000 after purchasing an additional 4,487,654 shares during the last quarter. Boston Partners bought a new stake in shares of Maplebear in the 4th quarter valued at about $111,506,000. Altimeter Capital Management LP purchased a new stake in Maplebear during the 4th quarter valued at about $105,108,000. Vanguard Group Inc. grew its position in Maplebear by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock worth $661,409,000 after acquiring an additional 2,300,288 shares during the last quarter. Finally, Norges Bank purchased a new position in Maplebear in the 4th quarter worth approximately $95,162,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Macquarie upped their price target on Maplebear from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. decreased their price target on shares of Maplebear from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company lowered their target price on Maplebear from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 3rd. Stifel Nicolaus raised their price target on shares of Maplebear from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 price objective on shares of Maplebear in a report on Wednesday, February 26th. Twelve analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.61.

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.