Maplebear Inc. (NASDAQ:CART - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company 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.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Mizuho started coverage on Maplebear in a report on Tuesday, January 14th. They set an "outperform" rating and a $55.00 price target on the stock. 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. Robert W. Baird raised their price target on shares of Maplebear from $44.00 to $51.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. BMO Capital Markets boosted their price objective on shares of Maplebear from $39.00 to $48.00 and gave the company a "market perform" rating in a report on Wednesday, November 13th. Finally, Loop Capital raised their target price on shares of Maplebear from $49.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Maplebear has an average rating of "Moderate Buy" and a consensus price target of $48.96.
Read Our Latest Stock Analysis on Maplebear
Maplebear Stock Down 0.4 %
The company has a fifty day simple moving average of $46.20 and a 200-day simple moving average of $42.29. The firm has a market cap of $13.44 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 1.20 and a beta of 1.07.
Insider Buying and Selling at Maplebear
In other news, CEO Fidji Simo sold 20,750 shares of the company's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the completion of the transaction, the chief executive officer now owns 1,771,993 shares of the company's stock, valued at $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of the company's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $42.14, for a total value of $94,688.58. Following the completion of the transaction, the chief accounting officer now directly owns 87,735 shares of the company's stock, valued at approximately $3,697,152.90. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,061 shares of company stock valued at $1,980,263. Company insiders own 36.00% of the company's stock.
Hedge Funds Weigh In On Maplebear
A number of hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its position in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after buying an additional 222 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Maplebear by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company's stock valued at $331,000 after buying an additional 286 shares in the last quarter. Allworth Financial LP grew its holdings in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after buying an additional 420 shares in the last quarter. WCG Wealth Advisors LLC grew its holdings in Maplebear by 3.3% during the 4th quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company's stock valued at $590,000 after buying an additional 451 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Maplebear by 1.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company's stock valued at $1,294,000 after buying an additional 490 shares in the last quarter. Institutional investors own 63.09% of the company's stock.
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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