Maplebear Inc. (NASDAQ:CART - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $50.11 and last traded at $49.01, with a volume of 470267 shares traded. The stock had previously closed at $48.49.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Maplebear from $52.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Loop Capital lifted their price objective on Maplebear from $49.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Mizuho started coverage on Maplebear in a report on Tuesday, January 14th. They issued an "outperform" rating and a $55.00 target price for the company. BTIG Research raised Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 target price for the company in a research note on Tuesday, January 14th. Finally, JMP Securities boosted their price target on shares of Maplebear from $42.00 to $51.00 and gave the company a "market outperform" rating in a research report on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.96.
View Our Latest Analysis on CART
Maplebear Stock Performance
The company has a market capitalization of $12.93 billion, a PE ratio of 33.77, a P/E/G ratio of 1.09 and a beta of 1.07. The stock's 50-day simple moving average is $44.61 and its 200 day simple moving average is $41.17.
Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. During the same period last year, the business earned ($20.86) EPS. Maplebear's revenue for the quarter was up 11.5% compared to the same quarter last year. On average, analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.
Insider Activity
In other Maplebear news, CAO Alan Ramsay sold 2,247 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total value of $92,261.82. Following the sale, the chief accounting officer now owns 89,982 shares of the company's stock, valued at $3,694,660.92. This represents a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,804,243 shares in the company, valued at $77,528,321.71. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,555 shares of company stock valued at $2,164,787. 36.00% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Creative Planning raised its holdings in shares of Maplebear by 9.5% in the second quarter. Creative Planning now owns 9,566 shares of the company's stock worth $307,000 after acquiring an additional 831 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Maplebear by 3.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 64,943 shares of the company's stock worth $2,646,000 after purchasing an additional 1,993 shares in the last quarter. Renaissance Capital LLC increased its position in Maplebear by 20.0% during the 3rd quarter. Renaissance Capital LLC now owns 185,593 shares of the company's stock worth $7,561,000 after purchasing an additional 30,989 shares in the last quarter. Lecap Asset Management Ltd. raised its stake in Maplebear by 65.3% in the 3rd quarter. Lecap Asset Management Ltd. now owns 36,237 shares of the company's stock valued at $1,476,000 after purchasing an additional 14,318 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Maplebear in the 3rd quarter valued at about $74,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.
About Maplebear
(
Get Free Report)
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.
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