Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo Sells 3,236 Shares

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 3,236 shares of Maplebear stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $35.09, for a total transaction of $113,551.24. Following the completion of the transaction, the chief executive officer now directly 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 transaction of $461,285.58.
• On Tuesday, March 26th, Fidji Simo sold 20,750 shares of Maplebear stock. The stock was sold at an average price of $38.06, for a total transaction of $789,745.00.
• On Wednesday, March 20th, Fidji Simo sold 82,461 shares of Maplebear stock. The stock was sold at an average price of $38.07, for a total value of $3,139,290.27.

Maplebear Trading Up 3.9 %

Shares of CART stock opened at $35.46 on Thursday. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $42.95. The business’s 50 day moving average is $35.59 and its two-hundred day moving average is $28.73.

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

Institutional Trading of Maplebear

Several hedge funds have recently added to or reduced their stakes in the business. Capstone Investment Advisors LLC lifted its holdings in shares of Maplebear by 37.7% during the first quarter. Capstone Investment Advisors LLC now owns 172,134 shares of the company’s stock worth $6,419,000 after buying an additional 47,134 shares during the last quarter. Joel Isaacson & Co. LLC bought a new position in Maplebear during the first quarter worth $932,000. Regis Management CO LLC acquired a new position in Maplebear during the 1st quarter valued at $583,000. Industry Ventures L.L.C. boosted its holdings in Maplebear by 0.4% in the 1st quarter. Industry Ventures L.L.C. now owns 949,283 shares of the company’s stock valued at $35,399,000 after purchasing an additional 3,939 shares during the period. Finally, Solstein Capital LLC acquired a new stake in Maplebear in the 1st quarter worth $233,000. Institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

CART has been the subject of several research analyst reports. Benchmark downgraded Maplebear from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Piper Sandler boosted their price objective on shares of Maplebear from $36.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Robert W. Baird increased their target price on shares of Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Needham & Company LLC restated a “hold” rating on shares of Maplebear in a report on Tuesday, April 23rd. Finally, BMO Capital Markets started coverage on shares of Maplebear in a research note on Tuesday, January 9th. They issued a “market perform” rating and a $26.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average 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.