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 company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the sale, the chief executive officer now owns 1,662,692 shares of the company’s stock, valued at approximately $72,011,190.52. The trade was a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, December 18th, Fidji Simo sold 20,750 shares of Maplebear stock. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $41.09 on Friday. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.19 and a beta of 1.07. The stock’s 50 day moving average price is $46.43 and its 200 day moving average price is $42.72.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.16. The firm had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. On average, sell-side analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its position in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Maplebear during the 3rd quarter valued at $33,000. Allworth Financial LP lifted its stake in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after purchasing an additional 717 shares during the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Maplebear in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CART shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $55.00 price target on shares of Maplebear in a research report on Wednesday. Bank of America upped their price objective on shares of Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Maplebear from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday. Mizuho decreased their price objective on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company assumed coverage on shares of Maplebear in a research report on Friday, January 10th. They issued an “equal weight” rating and a $47.00 price objective for the company. Thirteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and an average price target of $49.92.

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.