Maplebear (NASDAQ:CART) Reaches New 1-Year High – Should You Buy?

Shares of Maplebear Inc. (NASDAQ:CART) hit a new 52-week high on Tuesday . The stock traded as high as $45.79 and last traded at $45.66, with a volume of 188580 shares traded. The stock had previously closed at $44.64.

Analyst Ratings Changes

CART has been the subject of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of Maplebear from $36.00 to $39.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Citigroup boosted their price objective on shares of Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Wolfe Research started coverage on shares of Maplebear in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Stifel Nicolaus upped their price target on shares of Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Macquarie lifted their price objective on Maplebear from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.57.

Maplebear Trading Up 2.7 %

The company has a 50 day moving average price of $40.20 and a 200-day moving average price of $35.92. The company has a market cap of $11.96 billion, a P/E ratio of -2.26, a price-to-earnings-growth ratio of 1.39 and a beta of 1.12.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. The company had revenue of $823.00 million during the quarter, compared to the consensus estimate of $806.35 million. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. Maplebear’s quarterly revenue was up 14.9% on a year-over-year basis. Equities analysts expect that Maplebear Inc. will post 1.17 earnings per share for the current year.

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 8,345 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $333,800.00. Following the completion of the sale, the general counsel now directly owns 330,886 shares in the company, valued at $13,235,440. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, General Counsel Morgan Fong sold 8,345 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total transaction of $333,800.00. Following the sale, the general counsel now owns 330,886 shares of the company’s stock, valued at $13,235,440. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Fidji Simo sold 33,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the sale, the chief executive officer now directly owns 1,844,778 shares of the company’s stock, valued at approximately $65,065,320.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,457 shares of company stock worth $3,573,142. Corporate insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

A number of large investors have recently modified their holdings of the company. Sculptor Capital LP purchased a new stake in Maplebear in the second quarter valued at $77,361,000. Federated Hermes Inc. raised its stake in Maplebear by 102.2% during the second quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock worth $55,739,000 after purchasing an additional 876,439 shares during the period. SG Americas Securities LLC acquired a new position in Maplebear in the first quarter valued at approximately $31,109,000. Lord Abbett & CO. LLC purchased a new stake in Maplebear during the first quarter worth about $28,674,000. Finally, Renaissance Technologies LLC purchased a new position in Maplebear in the 2nd quarter valued at approximately $22,816,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

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.