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

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction dated 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 trade represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 stock was sold at an average price of $44.39, for a total transaction of $921,092.50.

Maplebear Stock Down 0.2 %

CART stock opened at $43.44 on Friday. The firm has a 50 day moving average of $43.17 and a 200 day moving average of $37.03. The stock has a market capitalization of $11.16 billion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.12. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $50.01.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. The company had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Maplebear’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the business earned ($20.86) EPS. On average, equities research analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current year.

Institutional Trading of Maplebear

A number of institutional investors have recently bought and sold shares of CART. Pacer Advisors Inc. acquired a new stake in Maplebear in the 3rd quarter worth approximately $158,701,000. Sculptor Capital LP acquired a new stake in Maplebear during the 2nd quarter valued at approximately $77,361,000. Geode Capital Management LLC lifted its stake in Maplebear by 151.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock valued at $111,361,000 after acquiring an additional 1,647,081 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Maplebear by 5,191.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after acquiring an additional 1,461,501 shares during the period. Finally, Southpoint Capital Advisors LP lifted its stake in Maplebear by 56.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock valued at $101,850,000 after acquiring an additional 900,000 shares during the period. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Robert W. Baird raised their price target on shares of Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Raymond James began coverage on shares of Maplebear in a research note on Tuesday, September 24th. They issued a “market perform” rating on the stock. Barclays raised their target price on shares of Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Morgan Stanley cut their target price on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 24th. Finally, Bank of America raised their target price on shares of Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and a consensus 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.