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

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $42.97, for a total value 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 approximately $77,528,321.71. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 transaction of $921,092.50.

Maplebear Trading Up 0.5 %

Shares of NASDAQ CART opened at $43.67 on Friday. Maplebear Inc. has a 12-month low of $22.13 and a 12-month high of $50.01. The stock’s fifty day simple moving average is $43.20 and its two-hundred day simple moving average is $37.09. The stock has a market capitalization of $11.22 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 1.12 and a beta of 1.12.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. During the same period in the prior year, the company posted ($20.86) EPS. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts predict that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Institutional Trading of Maplebear

A number of hedge funds and other institutional investors have recently made changes to their positions in CART. Wilmington Savings Fund Society FSB acquired a new position in Maplebear during the third quarter valued at $33,000. Huntington National Bank acquired a new position in shares of Maplebear in the 3rd quarter valued at about $54,000. nVerses Capital LLC boosted its stake in shares of Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after buying an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Maplebear during the third quarter worth about $74,000. Finally, Quarry LP raised 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 acquiring an additional 2,865 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

CART has been the topic of several analyst reports. Barclays upped their price target on shares of Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. BMO Capital Markets upped their target price on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Wedbush increased their price target on Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Stifel Nicolaus boosted their price objective on Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Piper Sandler increased their target price on Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.29.

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.