Maplebear (NASDAQ:CART) Sets New 12-Month High – Time to Buy?

Maplebear Inc. (NASDAQ:CART)’s share price reached a new 52-week high on Tuesday . The company traded as high as $51.94 and last traded at $50.28, with a volume of 7673 shares changing hands. The stock had previously closed at $50.97.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CART. Bank of America raised their price target on shares of Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Needham & Company LLC upgraded shares of Maplebear from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Monday, January 13th. Barclays raised their target price on shares of Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. JMP Securities raised their target price on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Finally, BMO Capital Markets raised their target price on shares of Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Maplebear has an average rating of “Moderate Buy” and an average target price of $48.96.

Maplebear Stock Performance

The firm’s 50-day moving average price is $45.78 and its two-hundred day moving average price is $42.07. The firm has a market capitalization of $13.50 billion, a price-to-earnings ratio of 35.27, a price-to-earnings-growth ratio of 1.14 and a beta of 1.07.

Insider Activity at Maplebear

In related news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $42.97, for a total transaction of $891,627.50. Following the completion of the transaction, the chief executive officer now directly owns 1,804,243 shares of the company’s stock, valued at $77,528,321.71. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the transaction, the chief accounting officer now directly owns 87,735 shares of the company’s stock, valued at $3,697,152.90. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,061 shares of company stock valued at $1,980,263 in the last ninety days. Insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

A number of institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp raised its stake in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Maplebear by 3.7% in the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after acquiring an additional 286 shares during the last quarter. Allworth Financial LP raised its stake in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after acquiring an additional 420 shares during the last quarter. WCG Wealth Advisors LLC raised its stake in shares of Maplebear by 3.3% in the fourth quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock worth $590,000 after acquiring an additional 451 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in shares of Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after acquiring an additional 490 shares during the last quarter. 63.09% of the stock is owned by institutional investors.

About Maplebear

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.