Maplebear (NASDAQ:CART) Sets New 52-Week High – Here’s What Happened

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

Analyst Upgrades and Downgrades

CART has been the topic of several research reports. Seaport Res Ptn upgraded shares of Maplebear to a “strong-buy” rating in a report on Wednesday, February 12th. Mizuho began coverage on shares of Maplebear in a research note on Tuesday, January 14th. They issued an “outperform” rating and a $55.00 target price for the company. Barclays upped their target price on shares of Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Bank of America upped their target price on shares of Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Oppenheimer increased their price target on shares of Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.96.

Maplebear Stock Performance

The stock has a 50-day simple moving average of $45.39 and a two-hundred day simple moving average of $41.86. The firm has a market cap of $12.76 billion, a PE ratio of 33.31, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07.

Insiders Place Their Bets

In other Maplebear news, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total transaction of $92,261.82. Following the completion of the sale, the chief accounting officer now directly owns 89,982 shares in the company, valued at $3,694,660.92. The trade was a 2.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total value of $886,855.00. Following the sale, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,555 shares of company stock valued at $2,164,787. 36.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CART. Jones Financial Companies Lllp lifted its holdings in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear during the 3rd quarter worth approximately $33,000. Allworth Financial LP raised its holdings in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after acquiring an additional 420 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after acquiring an additional 717 shares in the last quarter. Finally, Anderson Financial Strategies LLC purchased a new stake in shares of Maplebear during the 4th quarter worth approximately $46,000. 63.09% of the stock is owned by hedge funds and other 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.