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 Tuesday, October 29th. The stock was sold at an average price of $44.39, for a total value of $921,092.50. Following the completion of the sale, the chief executive officer now directly owns 1,803,278 shares in the company, valued at $80,047,510.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, August 28th, Fidji Simo sold 33,000 shares of Maplebear stock. The stock was sold at an average price of $35.27, for a total transaction of $1,163,910.00.

Maplebear Trading Up 1.5 %

NASDAQ CART opened at $44.78 on Friday. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $45.75. The stock’s 50-day moving average price is $40.04 and its two-hundred day moving average price is $35.87. The company has a market cap of $11.68 billion and a PE ratio of -2.26.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. The firm had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $806.35 million. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. Maplebear’s revenue was up 14.9% on a year-over-year basis. Research analysts forecast that Maplebear Inc. will post 1.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on CART shares. Morgan Stanley reduced their target price on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 24th. Raymond James initiated coverage on Maplebear in a report on Tuesday, September 24th. They issued a “market perform” rating for the company. Benchmark reaffirmed a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Wedbush boosted their price target on Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus raised their price target on Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, October 28th. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.57.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Sculptor Capital LP purchased a new position in Maplebear during the 2nd quarter valued at about $77,361,000. Federated Hermes Inc. boosted its holdings in shares of Maplebear by 102.2% during the second quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock worth $55,739,000 after purchasing an additional 876,439 shares during the period. SG Americas Securities LLC purchased a new position in Maplebear during the first quarter valued at approximately $31,109,000. Lord Abbett & CO. LLC acquired a new position in Maplebear in the 1st quarter valued at approximately $28,674,000. Finally, Renaissance Technologies LLC purchased a new stake in Maplebear in the 2nd quarter worth approximately $22,816,000. 63.09% of the stock is owned by institutional investors and hedge funds.

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.