Insider Selling: Maplebear Inc. (NASDAQ:CART) CEO Sells 6,640 Shares of Stock

Maplebear Inc. (NASDAQ:CART - Get Free Report) CEO Fidji Simo sold 6,640 shares of Maplebear stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $50.00, for a total transaction of $332,000.00. Following the transaction, the chief executive officer directly owned 1,958,805 shares in the company, valued at approximately $97,940,250. The trade was a 0.34% decrease in their ownership of the stock. The sale 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 Tuesday, July 22nd, Fidji Simo sold 66,560 shares of Maplebear stock. The shares were sold at an average price of $50.01, for a total value of $3,328,665.60.
• On Monday, July 14th, Fidji Simo sold 14,233 shares of Maplebear stock. The shares were sold at an average price of $47.86, for a total value of $681,191.38.

Maplebear Price Performance

NASDAQ CART traded up $0.05 during trading hours on Thursday, reaching $49.84. The company's stock had a trading volume of 1,948,701 shares, compared to its average volume of 4,183,757. The firm has a market capitalization of $13.08 billion, a price-to-earnings ratio of 32.79, a P/E/G ratio of 2.10 and a beta of 1.21. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The company's 50-day moving average is $46.24 and its two-hundred day moving average is $44.44.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The company had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. Maplebear had a net margin of 12.45% and a return on equity of 14.12%. Maplebear's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 EPS. Equities analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on CART. Macquarie reaffirmed an "outperform" rating and issued a $55.00 price target on shares of Maplebear in a report on Tuesday, May 6th. Wells Fargo & Company dropped their price target on Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 3rd. Sanford C. Bernstein boosted their target price on shares of Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Monday. Loop Capital lifted their price objective on shares of Maplebear from $52.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Finally, JMP Securities restated a "market outperform" rating and issued a $55.00 target price on shares of Maplebear in a research note on Thursday, June 12th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $52.30.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Proathlete Wealth Management LLC purchased a new stake in Maplebear during the 1st quarter worth approximately $26,000. NewEdge Advisors LLC boosted its stake in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after acquiring an additional 717 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Maplebear in the first quarter worth approximately $40,000. UMB Bank n.a. lifted its holdings in Maplebear by 914.1% in the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after purchasing an additional 905 shares in the last quarter. Finally, Spire Wealth Management acquired a new stake in shares of Maplebear in the first quarter valued at about $41,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Company Profile

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.

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