Fidji Simo Sells 8,500 Shares of Maplebear Inc. (NASDAQ:CART) Stock

Maplebear Inc. (NASDAQ:CART) CEO Fidji Simo sold 8,500 shares of Maplebear stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $33.04, for a total transaction of $280,840.00. Following the completion of the transaction, the chief executive officer now directly owns 1,984,167 shares in the company, valued at $65,556,877.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, June 12th, Fidji Simo sold 2,500 shares of Maplebear stock. The stock was sold at an average price of $33.81, for a total value of $84,525.00.
• On Wednesday, May 29th, Fidji Simo sold 6,000 shares of Maplebear stock. The shares were sold at an average price of $31.82, for a total value of $190,920.00.
• On Wednesday, May 1st, Fidji Simo sold 3,236 shares of Maplebear stock. The stock was sold at an average price of $35.09, for a total transaction of $113,551.24.
• On Monday, April 29th, Fidji Simo sold 13,206 shares of Maplebear stock. The stock was sold at an average price of $34.93, for a total transaction of $461,285.58.

Maplebear Trading Up 1.3 %

NASDAQ:CART opened at $32.14 on Monday. The firm’s fifty day moving average price is $33.45 and its two-hundred day moving average price is $31.13. Maplebear Inc. has a one year low of $22.13 and a one year high of $42.95.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.39. The firm had revenue of $820.00 million for the quarter, compared to the consensus estimate of $794.08 million. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, sell-side analysts forecast that Maplebear Inc. will post 1.02 EPS for the current fiscal year.

Institutional Trading of Maplebear

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CART. Parallel Advisors LLC lifted its holdings in shares of Maplebear by 139.3% in the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after purchasing an additional 620 shares in the last quarter. Cantor Fitzgerald L. P. lifted its holdings in shares of Maplebear by 389.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Maplebear in the 4th quarter worth $69,000. Amalgamated Bank bought a new position in Maplebear during the 4th quarter valued at $94,000. Finally, International Assets Investment Management LLC bought a new position in Maplebear during the 4th quarter valued at $110,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Maplebear in a research note on Tuesday, May 7th. Barclays lifted their price target on shares of Maplebear from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Sanford C. Bernstein upgraded shares of Maplebear from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $30.00 to $43.00 in a report on Thursday, March 14th. Wolfe Research lifted their target price on shares of Maplebear from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Finally, JMP Securities lifted their target price on shares of Maplebear from $35.00 to $42.00 and gave the company a “market outperform” rating in a report on Thursday, May 9th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.25.

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.