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Fidji Simo Sells 1,014 Shares of Maplebear (NASDAQ:CART) Stock

Maplebear logo with Retail/Wholesale background

Key Points

  • Fidji Simo, a director at Maplebear Inc. (NASDAQ:CART), sold 1,014 shares at an average price of $40.00 on October 16th, totaling $40,560.00, reducing their holdings by 0.18% to 569,742 shares.
  • Maplebear stock had a recent trading price of $38.49, reflecting a market cap of $10.14 billion and a P/E ratio of 22.25, with analyst price targets ranging from $43.00 to $67.00.
  • Several institutional investors, including Viking Global Investors and William Blair Investment Management, have significantly increased their positions in Maplebear, indicating strong interest from the investment community.
  • Five stocks we like better than Maplebear.

Maplebear Inc. (NASDAQ:CART - Get Free Report) Director Fidji Simo sold 1,014 shares of the firm's stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $40.00, for a total value of $40,560.00. Following the transaction, the director owned 569,742 shares of the company's stock, valued at $22,789,680. This trade represents a 0.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Wednesday, October 15th, Fidji Simo sold 3,051 shares of Maplebear stock. The stock was sold at an average price of $39.60, for a total value of $120,819.60.
  • On Monday, September 15th, Fidji Simo sold 7,140 shares of Maplebear stock. The stock was sold at an average price of $47.30, for a total value of $337,722.00.
  • On Wednesday, July 23rd, Fidji Simo sold 6,640 shares of Maplebear stock. The stock was sold at an average price of $50.00, for a total value of $332,000.00.
  • On Tuesday, July 22nd, Fidji Simo sold 66,560 shares of Maplebear stock. The stock was sold at an average price of $50.01, for a total value of $3,328,665.60.

Maplebear Price Performance

Shares of Maplebear stock traded down $0.50 during midday trading on Friday, hitting $38.49. 3,665,264 shares of the company were exchanged, compared to its average volume of 4,694,436. The firm has a market cap of $10.14 billion, a P/E ratio of 22.25, a PEG ratio of 1.21 and a beta of 1.10. Maplebear Inc. has a 52 week low of $34.87 and a 52 week high of $53.50. The firm has a 50 day simple moving average of $43.12 and a 200-day simple moving average of $44.19.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The firm had revenue of $914.00 million during the quarter, compared to the consensus estimate of $896.55 million. During the same quarter in the previous year, the company posted $0.20 EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup upped their price target on shares of Maplebear from $57.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Morgan Stanley boosted their target price on shares of Maplebear from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Friday, August 15th. Benchmark upgraded shares of Maplebear from a "hold" rating to a "buy" rating and set a $67.00 target price on the stock in a research report on Friday, August 8th. BTIG Research reissued a "neutral" rating and set a $55.00 price target on shares of Maplebear in a research note on Tuesday, September 30th. Finally, Jefferies Financial Group dropped their price objective on shares of Maplebear from $55.00 to $43.00 and set a "hold" rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $52.40.

Read Our Latest Research Report on Maplebear

Institutional Trading of Maplebear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Viking Global Investors LP acquired a new position in shares of Maplebear during the 2nd quarter worth about $169,782,000. William Blair Investment Management LLC acquired a new position in shares of Maplebear during the 2nd quarter worth about $151,364,000. Victory Capital Management Inc. grew its position in shares of Maplebear by 62.8% during the 1st quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company's stock worth $293,919,000 after buying an additional 2,841,559 shares during the period. Norges Bank acquired a new position in shares of Maplebear during the 2nd quarter worth about $97,351,000. Finally, Boston Partners grew its position in shares of Maplebear by 93.3% during the 2nd quarter. Boston Partners now owns 3,961,838 shares of the company's stock worth $179,261,000 after buying an additional 1,911,771 shares during the period. 63.09% of the stock is currently owned by institutional investors and hedge funds.

About Maplebear

(Get Free Report)

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.

Read More

Insider Buying and Selling by Quarter for Maplebear (NASDAQ:CART)

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