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

Maplebear Inc. (NASDAQ:CART - Get Free Report) CEO Fidji Simo sold 2,033 shares of the stock in a transaction on Monday, March 17th. The stock was 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 in the company, valued at approximately $66,182,360. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Trading Down 0.1 %

Shares of CART traded down $0.03 during trading hours on Friday, reaching $38.90. 13,057,199 shares of the company's stock traded hands, compared to its average volume of 3,937,898. The stock has a market cap of $10.29 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. The firm's 50 day simple moving average is $45.10 and its 200-day simple moving average is $43.27. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.16. The firm had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. As a group, analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

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Analysts Set New Price Targets

A number of brokerages recently issued reports on CART. Bank of America increased their target price on Maplebear from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. BMO Capital Markets increased their target price on Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Cantor Fitzgerald reissued an "overweight" rating and issued a $55.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price target on Maplebear from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Finally, Macquarie increased their price target on Maplebear from $52.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Maplebear currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.52.

Institutional Trading of Maplebear

Large investors have recently modified their holdings of the business. Jones Financial Companies Lllp raised its holdings in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after buying 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 about $33,000. Allworth Financial LP raised its holdings in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after buying an additional 420 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after buying an additional 717 shares in the last quarter. Finally, Anderson Financial Strategies LLC purchased a new position in shares of Maplebear during the 4th quarter valued at about $46,000. Institutional investors 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.