Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo Sells 20,750 Shares

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $38.06, for a total value of $789,745.00. Following the completion of the transaction, the chief executive officer now directly owns 888,365 shares of the company’s stock, valued at $33,811,171.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, March 20th, Fidji Simo sold 82,461 shares of Maplebear stock. The shares were sold at an average price of $38.07, for a total value of $3,139,290.27.

Maplebear Stock Performance

NASDAQ:CART opened at $37.29 on Friday. Maplebear Inc. has a 12-month low of $22.13 and a 12-month high of $42.95. The business has a fifty day moving average of $30.55.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.52. The firm had revenue of $803.00 million during the quarter, compared to analyst estimates of $804.62 million. Maplebear’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts forecast that Maplebear Inc. will post 0.53 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on CART shares. Piper Sandler increased their price objective on Maplebear from $36.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Wolfe Research raised their price target on Maplebear from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Barclays raised their price target on Maplebear from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Sanford C. Bernstein upgraded Maplebear from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $30.00 to $43.00 in a research report on Thursday, March 14th. Finally, Morgan Stanley initiated coverage on Maplebear in a research report on Tuesday, January 30th. They set an “equal weight” rating and a $28.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.61.

Hedge Funds Weigh In On Maplebear

A number of institutional investors have recently bought and sold shares of CART. FMR LLC bought a new position in shares of Maplebear in the 3rd quarter valued at $56,424,000. Blackstone Inc. bought a new position in Maplebear during the 3rd quarter worth $17,369,000. KPCB DGF II Associates LLC bought a new position in Maplebear during the 3rd quarter worth $119,544,000. Monashee Investment Management LLC bought a new position in Maplebear during the 3rd quarter worth $6,069,000. Finally, Hudson Bay Capital Management LP bought a new position in Maplebear during the 3rd quarter worth $904,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.