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

Maplebear Inc. (NASDAQ:CART)’s stock 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.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Needham & Company LLC raised shares of Maplebear from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. upped their price objective on shares of Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Oppenheimer upped their target price on shares of Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Piper Sandler upped their target price on shares of Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company began coverage on shares of Maplebear in a research note on Friday, January 10th. They issued an “equal weight” rating and a $47.00 target price on the stock. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.96.

Maplebear Price Performance

The stock has a market capitalization of $13.50 billion, a P/E ratio of 35.27, a PEG ratio of 1.14 and a beta of 1.07. The stock’s fifty day moving average is $45.78 and its two-hundred day moving average is $42.07.

Insider Buying and Selling

In related news, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $42.97, for a total value of $891,627.50. Following the completion of the transaction, the chief executive officer now owns 1,804,243 shares of the company’s stock, valued at approximately $77,528,321.71. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 2,314 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the transaction, the chief accounting officer now directly owns 85,421 shares of the company’s stock, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,061 shares of company stock worth $1,980,263. Corporate insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CART. Cache Advisors LLC purchased a new stake in Maplebear in the 4th quarter worth approximately $304,000. WCG Wealth Advisors LLC lifted its position in Maplebear by 3.3% in the 4th quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock worth $590,000 after buying an additional 451 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Maplebear by 69.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 111,116 shares of the company’s stock worth $4,602,000 after buying an additional 45,458 shares in the last quarter. PharVision Advisers LLC purchased a new stake in Maplebear in the 4th quarter worth approximately $232,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Maplebear by 195.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 699,119 shares of the company’s stock worth $28,958,000 after buying an additional 462,684 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Company Profile

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.