Maplebear Inc. (NASDAQ:CART) CEO Sells $886,855.00 in Stock

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the transaction, the chief executive officer now directly owns 1,771,993 shares in the company, valued at approximately $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, November 25th, Fidji Simo sold 20,750 shares of Maplebear stock. The shares were sold at an average price of $42.97, for a total value of $891,627.50.
• On Tuesday, October 29th, Fidji Simo sold 20,750 shares of Maplebear stock. The shares were sold at an average price of $44.39, for a total value of $921,092.50.

Maplebear Price Performance

NASDAQ:CART opened at $42.02 on Monday. The company has a 50 day moving average price of $43.70 and a 200-day moving average price of $38.24. Maplebear Inc. has a 1-year low of $22.13 and a 1-year high of $50.01. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 1.08 and a beta of 0.94.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating 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 company had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. During the same quarter in the previous year, the company earned ($20.86) earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, sell-side analysts anticipate that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CART. Piper Sandler raised their price target on shares of Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Raymond James began coverage on Maplebear in a research report on Tuesday, September 24th. They set a “market perform” rating on the stock. Stifel Nicolaus raised their price objective on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Bank of America boosted their target price on Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Loop Capital increased their price objective on shares of Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Thirteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.14.

Hedge Funds Weigh In On Maplebear

Large investors have recently bought and sold shares of the business. Portman Ltd acquired a new stake in Maplebear in the third quarter valued at approximately $3,196,000. State Street Corp lifted its position in shares of Maplebear by 48.3% during the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company’s stock valued at $103,994,000 after buying an additional 831,795 shares in the last quarter. Cerity Partners LLC acquired a new stake in Maplebear in the 3rd quarter valued at $1,442,000. Charles Schwab Investment Management Inc. increased its holdings in Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock worth $60,689,000 after acquiring an additional 1,461,501 shares in the last quarter. Finally, Zacks Investment Management acquired a new position in Maplebear during the third quarter worth $4,853,000. Institutional investors and hedge funds 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.