Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo Sells 2,033 Shares of Stock

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the transaction, the chief executive officer now owns 1,654,559 shares of the company’s stock, valued at approximately $66,182,360. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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 value of $898,682.50.

Maplebear Price Performance

Shares of CART stock opened at $39.74 on Thursday. The business has a 50-day moving average of $45.33 and a 200 day moving average of $43.22. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The stock has a market capitalization of $10.52 billion, a PE ratio of 26.67, a P/E/G ratio of 1.19 and a beta of 1.34.

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

Wall Street Analysts Forecast Growth

CART has been the topic of several analyst reports. Bank of America upped their price target on Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Loop Capital decreased their target price on shares of Maplebear from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Benchmark reissued a “hold” rating on shares of Maplebear in a report on Wednesday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $55.00 price objective on shares of Maplebear in a research report on Wednesday, February 26th. Finally, Barclays boosted their target price on Maplebear from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.52.

Institutional Investors Weigh In On Maplebear

Several institutional investors have recently added to or reduced their stakes in CART. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Maplebear in the fourth quarter valued at about $3,086,000. Mackenzie Financial Corp increased its holdings in Maplebear by 559.1% during the 4th quarter. Mackenzie Financial Corp now owns 162,111 shares of the company’s stock valued at $6,715,000 after purchasing an additional 137,514 shares during the period. Cache Advisors LLC purchased a new position in Maplebear during the 4th quarter valued at about $304,000. WCG Wealth Advisors LLC raised its position in Maplebear by 3.3% during the 4th quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock valued at $590,000 after purchasing an additional 451 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in Maplebear by 69.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 111,116 shares of the company’s stock worth $4,602,000 after buying an additional 45,458 shares during the period. Hedge funds and other institutional investors own 63.09% of the company’s stock.

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.