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, March 26th. The stock was sold at an average price of $38.06, for a total transaction of $789,745.00. Following the completion of the sale, the chief executive officer now owns 888,365 shares in the company, valued at approximately $33,811,171.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 transaction of $3,139,290.27.

Maplebear Trading Up 0.5 %

Maplebear stock traded up $0.20 during midday trading on Thursday, hitting $37.29. 2,090,136 shares of the stock were exchanged, compared to its average volume of 4,253,887. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $42.95. The stock’s 50-day moving average price is $30.32.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating 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 was up 6.1% compared to the same quarter last year. As a group, analysts forecast that Maplebear Inc. will post 0.53 EPS for the current year.

Institutional Investors Weigh In On Maplebear

A number of institutional investors have recently made changes to their positions in CART. SC US Ttgp LTD. purchased a new position in shares of Maplebear in the third quarter valued at approximately $1,180,490,000. KPCB DGF II Associates LLC purchased a new position in shares of Maplebear in the third quarter valued at approximately $119,544,000. Canaan Partners IX LLC purchased a new position in shares of Maplebear in the fourth quarter valued at approximately $87,508,000. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST purchased a new position in shares of Maplebear in the third quarter valued at approximately $105,469,000. Finally, Norges Bank purchased a new position in shares of Maplebear in the fourth quarter valued at approximately $78,674,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CART has been the topic of a number of research reports. Wolfe Research increased their price objective on shares of Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Benchmark lowered shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Sanford C. Bernstein raised shares of Maplebear from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $30.00 to $43.00 in a report on Thursday, March 14th. Barclays increased their price target on shares of Maplebear from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley initiated coverage on shares of Maplebear in a report on Tuesday, January 30th. They set an “equal weight” rating and a $28.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.61.

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.