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 stock in a transaction on Monday, November 25th. The stock was sold at an average price of $42.97, for a total value of $891,627.50. Following the sale, the chief executive officer now owns 1,804,243 shares in the company, valued at $77,528,321.71. The trade was a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 Price Performance

NASDAQ CART opened at $43.44 on Thursday. Maplebear Inc. has a one year low of $22.13 and a one year high of $50.01. The firm has a market cap of $11.16 billion, a P/E ratio of 29.15, a P/E/G ratio of 1.13 and a beta of 1.12. The stock’s 50-day moving average is $43.13 and its 200-day moving average is $36.99.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.22 by $0.20. The firm had revenue of $852.00 million for the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted ($20.86) EPS. Equities analysts anticipate that Maplebear Inc. will post 1.4 EPS for the current year.

Hedge Funds Weigh In On Maplebear

A number of large investors have recently added to or reduced their stakes in CART. Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear during the third quarter worth about $33,000. Huntington National Bank acquired a new position in Maplebear during the 3rd quarter worth approximately $54,000. nVerses Capital LLC boosted its position in Maplebear by 1,600.0% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after acquiring an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Maplebear during the 3rd quarter worth approximately $74,000. Finally, Quarry LP raised its holdings in shares of Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Analysts Set New Price Targets

CART has been the subject of a number of research analyst reports. JMP Securities boosted their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Jefferies Financial Group began coverage on Maplebear in a research report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 price objective on the stock. BMO Capital Markets boosted their target price on Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. Finally, Raymond James started coverage on Maplebear in a report on Tuesday, September 24th. They issued a “market perform” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.29.

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.