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

Maplebear Inc. (NASDAQ:CART - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The company traded as high as $50.91 and last traded at $50.09, with a volume of 525058 shares changing hands. The stock had previously closed at $49.69.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CART shares. Bank of America raised their target price on Maplebear from $50.00 to $51.00 and gave the company a "neutral" rating in a research note on Wednesday, November 13th. Barclays raised their target price on Maplebear from $48.00 to $56.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Seaport Res Ptn upgraded Maplebear to a "strong-buy" rating in a report on Wednesday. Wells Fargo & Company assumed coverage on Maplebear in a research report on Friday, January 10th. They issued an "equal weight" rating and a $47.00 target price on the stock. Finally, BMO Capital Markets lifted their target price on Maplebear from $39.00 to $48.00 and gave the company a "market perform" rating in a research 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Maplebear presently has an average rating of "Moderate Buy" and a consensus target price of $48.96.

Maplebear Trading Up 2.0 %

The business has a 50-day simple moving average of $45.22 and a 200 day simple moving average of $41.68. The stock has a market cap of $13.09 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07.

Insider Buying and Selling at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the sale, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was 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 in the company, valued at approximately $77,528,321.71. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,555 shares of company stock worth $2,164,787. Insiders own 36.00% of the company's stock.

Institutional Trading of Maplebear

Several institutional investors and hedge funds have recently modified their holdings of CART. Jones Financial Companies Lllp increased its position in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear during the third quarter valued at approximately $33,000. Allworth Financial LP increased its position in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after acquiring an additional 420 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after acquiring an additional 717 shares during the last quarter. Finally, Huntington National Bank purchased a new stake in Maplebear in the third quarter worth $54,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

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.