Maplebear Inc. (NASDAQ:CART) CEO Sells $886,855.00 in Stock

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 20,750 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total value of $886,855.00. Following the transaction, the chief executive officer now directly owns 1,771,993 shares in the company, valued at $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, November 25th, Fidji Simo sold 20,750 shares of Maplebear stock. The shares were sold at an average price of $42.97, for a total value of $891,627.50.
• 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 value of $921,092.50.

Maplebear Price Performance

Shares of CART opened at $42.02 on Friday. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 1.08 and a beta of 0.94. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $50.01. The business’s 50 day simple moving average is $43.70 and its 200-day simple moving average is $38.24.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on CART. BMO Capital Markets increased their price objective on shares of Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Macquarie lifted their price target on shares of Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Stifel Nicolaus upped their price objective on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Morgan Stanley lowered their target price on 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, Jefferies Financial Group initiated coverage on Maplebear in a research report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 price target for the company. Thirteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and an average price target of $47.14.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CIBC Asset Management Inc increased its stake in Maplebear by 3.7% during the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after acquiring an additional 286 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Maplebear by 1.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after purchasing an additional 490 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of Maplebear by 5.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock valued at $493,000 after purchasing an additional 584 shares during the last quarter. Pier Capital LLC raised its holdings in Maplebear by 0.4% during the 3rd quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock valued at $6,176,000 after buying an additional 616 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Maplebear in the third quarter worth $33,000. Institutional investors own 63.09% of the company’s stock.

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.