SAN FRANCISCO – Simo Fidji, President and CEO of Maple Bear Inc. (NASDAQ:CART), recently sold a significant portion of the company's shares. According to a filing with the Securities and Exchange Commission, on 12/18/2024, Fidji sold a total of 20,750 shares at a weighted average price of $42.74 per share, for a total value of approximately $886,832. This transaction comes at a time when the company, currently valued at $10.8 billion, has an impressive gross margin of 75% and has a year-to-date return of 79%, according to data from InvestingPro.
The sales were conducted under a Rule 10b5-1 trading plan adopted by Fiji in November 2023. Following the transaction, Fidji continues to hold 1,771,993 shares of Maplebear.
The sales will occur in multiple transactions at prices ranging from $42.44 to $43.31 per share. This move is part of Fiji's ongoing management of its corporate holdings in compliance with pre-determined trading plans.
In other recent developments, Instacart (NASDAQ:) was rated higher by various analysts following strong third-quarter results. Loop Capital reiterated a Buy rating and raised its price target to $56, highlighting the company's growth potential and influence in the digital marketplace. Baird received an “Outperform” rating with a stable price target of $51, citing a beneficial reduction in markups on Instacart's platform.
Piper Sandler raised its price target to $58, emphasizing the importance of ongoing investments in products and partnerships to the company's continued success. Stifel raised its price target to $56 and expressed confidence in its business strategy and growth. Oppenheimer set the price target at $60, reflecting confidence in product improvements and growth prospects.
Instacart's third quarter performance exceeded expectations with strong growth in Gross Transaction Value (GTV), revenue and EBITDA. Order growth increased 10% year-over-year, driven by an increase in Instacart+ users and order frequency. Advertising revenue also grew 11%, thanks to partnerships with platforms like Roku, The Trade Desk, YouTube and PubMatic.
Instacart expanded its stock repurchase plan from $500 million to $750 million and announced strategic partnerships with Family Dollar and Foodsmart. The goal is to expand offerings for customers and improve health outcomes for people with obesity and diabetes. These latest developments provide insight into Instacart's financial strategies and market activities.
This translation was created using artificial intelligence. For further information, please see our Terms of Use.
