Maplebear Inc. (NASDAQ:CART - Get Free Report) CEO Fidji Simo sold 66,560 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $50.01, for a total transaction of $3,328,665.60. Following the sale, the chief executive officer directly owned 1,965,445 shares in the company, valued at approximately $98,291,904.45. The trade was a 3.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Fidji Simo also recently made the following trade(s):
- On Wednesday, July 23rd, Fidji Simo sold 6,640 shares of Maplebear stock. The shares were sold at an average price of $50.00, for a total transaction of $332,000.00.
- On Monday, July 14th, Fidji Simo sold 14,233 shares of Maplebear stock. The stock was sold at an average price of $47.86, for a total transaction of $681,191.38.
Maplebear Price Performance
Shares of Maplebear stock traded down $1.43 during midday trading on Friday, hitting $48.41. 3,161,810 shares of the company were exchanged, compared to its average volume of 2,966,885. The firm has a 50 day simple moving average of $46.41 and a 200-day simple moving average of $44.51. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The firm has a market cap of $12.71 billion, a P/E ratio of 31.85, a PEG ratio of 2.04 and a beta of 1.21.
Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The company had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.
Analyst Ratings Changes
A number of analysts recently weighed in on CART shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $56.00 price objective on shares of Maplebear in a research note on Friday, May 2nd. Stifel Nicolaus decreased their price objective on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their price target on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Macquarie reiterated an "outperform" rating and issued a $55.00 price target on shares of Maplebear in a report on Tuesday, May 6th. Finally, Wells Fargo & Company cut their price target on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Eleven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Maplebear has a consensus rating of "Moderate Buy" and an average target price of $52.30.
Check Out Our Latest Research Report on CART
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in CART. Proathlete Wealth Management LLC bought a new position in Maplebear during the first quarter worth about $26,000. NewEdge Advisors LLC lifted its holdings in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after purchasing an additional 717 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Maplebear by 914.1% in the first 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 during the last quarter. Brooklyn Investment Group bought a new stake in shares of Maplebear in the first quarter worth $40,000. Finally, Spire Wealth Management bought a new stake in shares of Maplebear in the first quarter worth $41,000. 63.09% of the stock is currently owned by institutional investors.
Maplebear Company Profile
(
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.
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