Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo Sells 13,206 Shares of Stock

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 13,206 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $34.93, for a total value of $461,285.58. Following the sale, the chief executive officer now owns 2,132,845 shares of the company’s stock, valued at approximately $74,500,275.85. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, May 1st, Fidji Simo sold 3,236 shares of Maplebear stock. The shares were sold at an average price of $35.09, for a total value of $113,551.24.
• On Tuesday, March 26th, Fidji Simo sold 20,750 shares of Maplebear stock. The shares were sold at an average price of $38.06, for a total value of $789,745.00.
• 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

Shares of CART opened at $35.46 on Thursday. The company’s fifty day moving average is $35.59 and its 200-day moving average is $28.73. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $42.95.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. The company’s revenue was up 6.1% on a year-over-year basis. Analysts expect that Maplebear Inc. will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC grew its stake in Maplebear by 139.3% in the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after buying an additional 620 shares during the last quarter. Signaturefd LLC acquired a new position in Maplebear in the 3rd quarter valued at $30,000. Cantor Fitzgerald L. P. grew its stake in Maplebear by 389.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after buying an additional 2,489 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Maplebear in the 4th quarter valued at $69,000. Finally, Amalgamated Bank acquired a new position in Maplebear in the 4th quarter valued at $94,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Moffett Nathanson reiterated a “neutral” rating and set a $37.00 price objective (up previously from $36.00) on shares of Maplebear in a research report on Thursday, April 11th. JPMorgan Chase & Co. raised their target price on Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Piper Sandler upped their price target on Maplebear from $36.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Sanford C. Bernstein upgraded Maplebear from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $30.00 to $43.00 in a research report on Thursday, March 14th. Finally, BMO Capital Markets initiated coverage on Maplebear in a report on Tuesday, January 9th. They issued a “market perform” rating and a $26.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and an average price target of $38.79.

About Maplebear

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.