Maplebear Inc. (NASDAQ:CART) CEO Sells $113,551.24 in Stock

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 3,236 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $35.09, for a total value of $113,551.24. Following the transaction, the chief executive officer now owns 2,125,301 shares in the company, valued at $74,576,812.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, April 29th, Fidji Simo sold 13,206 shares of Maplebear stock. The shares were sold at an average price of $34.93, for a total value of $461,285.58.
• 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 transaction of $3,139,290.27.

Maplebear Stock Performance

NASDAQ CART opened at $36.70 on Friday. The stock’s 50 day simple moving average is $35.70 and its 200 day simple moving average is $28.78. Maplebear Inc. has a one year low of $22.13 and a one year high of $42.95.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.52. The company had revenue of $803.00 million for the quarter, compared to analyst estimates of $804.62 million. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that Maplebear Inc. will post 0.53 EPS for the current fiscal year.

Institutional Trading of Maplebear

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC bought a new stake in shares of Maplebear in the 3rd quarter valued at about $56,424,000. Blackstone Inc. acquired a new stake in shares of Maplebear in the third quarter valued at approximately $17,369,000. KPCB DGF II Associates LLC bought a new stake in Maplebear during the 3rd quarter worth about $119,544,000. Monashee Investment Management LLC bought a new stake in Maplebear during the third quarter worth about $6,069,000. Finally, Federated Hermes Inc. raised its stake in shares of Maplebear by 190.2% during the 4th quarter. Federated Hermes Inc. now owns 464,355 shares of the company’s stock worth $10,898,000 after purchasing an additional 304,355 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CART shares. Moffett Nathanson reissued a “neutral” rating and set a $37.00 target price (up previously from $36.00) on shares of Maplebear in a research report on Thursday, April 11th. Fox Advisors downgraded Maplebear from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. raised their target price on Maplebear from $35.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Robert W. Baird raised their price objective on shares of Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Finally, Oppenheimer boosted their price target on Maplebear from $36.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and a consensus target price 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.