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Maplebear (NASDAQ:CART) Director Sells $120,819.60 in Stock

Maplebear logo with Retail/Wholesale background

Key Points

  • Fidji Simo, director of Maplebear (NASDAQ:CART), sold 3,051 shares at an average price of $39.60, totaling $120,819.60, reducing his ownership by 0.53% to 570,756 shares valued at over $22.6 million.
  • Maplebear's stock decreased by 1.3% to $38.49, with a current market capitalization of $10.14 billion and a PE ratio of 22.25.
  • Analyst ratings for Maplebear are mixed, with two strong buy, thirteen buy, twelve hold, and one sell rating, reflecting varied investor confidence in the stock's future performance.
  • MarketBeat previews top five stocks to own in November.

Maplebear Inc. (NASDAQ:CART - Get Free Report) Director Fidji Simo sold 3,051 shares of the company's stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $39.60, for a total transaction of $120,819.60. Following the completion of the sale, the director directly owned 570,756 shares of the company's stock, valued at $22,601,937.60. The trade was a 0.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

  • On Thursday, October 16th, Fidji Simo sold 1,014 shares of Maplebear stock. The stock was sold at an average price of $40.00, for a total transaction of $40,560.00.
  • 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 transaction 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 transaction 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 transaction of $3,328,665.60.

Maplebear Stock Down 1.3%

Maplebear stock traded down $0.50 during midday trading on Friday, hitting $38.49. The company's stock had a trading volume of 3,665,264 shares, compared to its average volume of 4,694,436. The stock's 50-day moving average price is $43.12 and its 200-day moving average price is $44.19. Maplebear Inc. has a 12 month low of $34.87 and a 12 month high of $53.50. The company has a market capitalization of $10.14 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of 1.21 and a beta of 1.10.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CART shares. Fox Advisors upgraded shares of Maplebear from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Piper Sandler downgraded Maplebear from an "overweight" rating to a "neutral" rating and set a $41.00 price objective on the stock. in a report on Friday, October 3rd. Guggenheim began coverage on Maplebear in a report on Wednesday. They set a "neutral" rating and a $40.00 price objective on the stock. Benchmark upgraded Maplebear from a "hold" rating to a "buy" rating and set a $67.00 price objective on the stock in a report on Friday, August 8th. Finally, Mizuho began coverage on Maplebear in a report on Tuesday, September 30th. They set a "neutral" rating and a $45.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.40.

Check Out Our Latest Stock Analysis on Maplebear

Hedge Funds Weigh In On Maplebear

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in Maplebear by 4,154.7% in the first quarter. Principal Financial Group Inc. now owns 372,581 shares of the company's stock worth $14,862,000 after buying an additional 363,824 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Maplebear by 18.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock worth $82,000 after purchasing an additional 322 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Maplebear by 7.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,166 shares of the company's stock worth $246,000 after purchasing an additional 433 shares during the period. Golden State Wealth Management LLC boosted its position in Maplebear by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company's stock worth $43,000 after purchasing an additional 533 shares during the period. Finally, New York State Teachers Retirement System boosted its position in Maplebear by 542.8% during the first quarter. New York State Teachers Retirement System now owns 101,720 shares of the company's stock worth $4,058,000 after purchasing an additional 85,896 shares during the period. Institutional investors and hedge funds own 63.09% of the company's stock.

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.

See Also

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

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