Fidji Simo Sells 20,750 Shares of Maplebear Inc. (NASDAQ:CART) Stock

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $42.97, for a total transaction of $891,627.50. Following the completion of the sale, the chief executive officer now owns 1,804,243 shares of the company’s stock, valued at $77,528,321.71. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 transaction of $921,092.50.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $43.44 on Friday. The firm has a fifty day moving average price of $43.17 and a 200 day moving average price of $37.03. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $50.01. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 1.13 and a beta of 1.12.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. 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 prior year, the business earned ($20.86) earnings per share. Maplebear’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, research analysts predict that Maplebear Inc. will post 1.4 earnings per share for the current year.

Hedge Funds Weigh In On Maplebear

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Maplebear during the third quarter worth $33,000. Huntington National Bank bought a new position in shares of Maplebear during the third quarter worth $54,000. nVerses Capital LLC lifted its position in Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after purchasing an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Maplebear during the third quarter valued at $74,000. Finally, Quarry LP lifted its position in Maplebear by 269.5% during the second quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

CART has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Oppenheimer boosted their target price 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. Raymond James started coverage on shares of Maplebear in a report on Tuesday, September 24th. They set a “market perform” rating for the company. Macquarie upped their target price on shares of Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Finally, JMP Securities upped their target price on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and an average price target of $47.29.

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.