Insider Selling: Maplebear Inc. (NASDAQ:CART) CEO Sells 8,500 Shares of Stock

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 8,500 shares of Maplebear stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $33.04, for a total transaction of $280,840.00. Following the sale, the chief executive officer now owns 1,984,167 shares in the company, valued at $65,556,877.68. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, June 12th, Fidji Simo sold 2,500 shares of Maplebear stock. The stock was sold at an average price of $33.81, for a total transaction 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 transaction 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 transaction of $113,551.24.
• On Monday, April 29th, Fidji Simo sold 13,206 shares of Maplebear stock. The shares were sold at an average price of $34.93, for a total transaction of $461,285.58.

Maplebear Trading Up 1.3 %

CART stock traded up $0.41 during midday trading on Friday, reaching $32.14. 13,909,523 shares of the company’s stock traded hands, compared to its average volume of 4,353,738. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $42.95. The business has a 50-day moving average price of $33.51 and a two-hundred day moving average price of $30.98.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on CART. Stifel Nicolaus lifted their price objective on shares of Maplebear from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Macquarie started coverage on shares of Maplebear in a research note on Monday, March 25th. They issued an “outperform” rating and a $42.00 price objective on the stock. Sanford C. Bernstein upgraded shares of Maplebear from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $30.00 to $43.00 in a research note on Thursday, March 14th. Gordon Haskett upgraded shares of Maplebear from a “hold” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $45.00 in a research note on Wednesday, June 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.25.

Institutional Trading of Maplebear

Hedge funds have recently made changes to their positions in the company. FMR LLC bought a new stake in shares of Maplebear in the third quarter worth $56,424,000. Norges Bank bought a new stake in shares of Maplebear in the fourth quarter worth $78,674,000. Blackstone Inc. bought a new stake in shares of Maplebear in the third quarter worth $17,369,000. Nomura Holdings Inc. bought a new stake in shares of Maplebear in the fourth quarter worth $587,000. Finally, Federated Hermes Inc. increased its stake in shares of Maplebear by 190.2% in the fourth quarter. Federated Hermes Inc. now owns 464,355 shares of the company’s stock worth $10,898,000 after buying an additional 304,355 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Company Profile

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.