Maplebear Inc. (NASDAQ:CART) CEO Sells $338,332.80 in Stock

Maplebear Inc. (NASDAQ:CART - Get Free Report) CEO Fidji Simo sold 8,133 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the sale, the chief executive officer now owns 1,646,426 shares in the company, valued at $68,491,321.60. The trade was a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, March 17th, Fidji Simo sold 2,033 shares of Maplebear stock. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00.
• On Wednesday, February 26th, Fidji Simo sold 20,750 shares of Maplebear stock. The shares were sold at an average price of $43.31, for a total transaction of $898,682.50.

Maplebear Stock Up 2.2 %

Shares of NASDAQ:CART traded up $0.91 on Friday, hitting $42.99. 5,453,705 shares of the company traded hands, compared to its average volume of 4,085,141. The company has a market cap of $11.29 billion, a PE ratio of 28.85, a PEG ratio of 1.19 and a beta of 1.20. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The stock has a 50 day simple moving average of $41.98 and a 200-day simple moving average of $43.50.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $889.98 million. As a group, sell-side analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $56.00 price objective on shares of Maplebear in a research note on Wednesday, February 26th. Bank of America boosted their target price on shares of Maplebear from $51.00 to $53.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. Wells Fargo & Company cut their price objective on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. JMP Securities reaffirmed a "market outperform" rating and issued a $55.00 price target on shares of Maplebear in a report on Friday, April 11th. Finally, Macquarie raised their price objective on shares of Maplebear from $52.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Twelve research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.61.

Institutional Investors Weigh In On Maplebear

A number of hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its stake in shares of Maplebear by 46.6% in 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. Wealth Enhancement Advisory Services LLC lifted its position in shares of Maplebear by 0.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,846 shares of the company's stock worth $2,986,000 after buying an additional 336 shares in the last quarter. 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 worth $37,000 after acquiring an additional 420 shares in the last quarter. CIBC Asset Management Inc lifted its position in Maplebear by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 8,554 shares of the company's stock valued at $354,000 after purchasing an additional 440 shares during the last quarter. Finally, WCG Wealth Advisors LLC lifted its holdings in shares of Maplebear by 3.3% in the 4th quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company's stock valued at $590,000 after acquiring an additional 451 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

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.