Maplebear (NASDAQ:CART) Reaches New 52-Week Low – Should You Sell?

Maplebear Inc. (NASDAQ:CART) hit a new 52-week low during trading on Thursday . The stock traded as low as $34.24 and last traded at $34.35, with a volume of 6295902 shares. The stock had previously closed at $36.54.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Benchmark dropped their target price on shares of Maplebear from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a report on Monday, December 29th. BNP Paribas Exane assumed coverage on Maplebear in a research note on Wednesday, January 14th. They issued an “underperform” rating and a $41.00 price target on the stock. Exane BNP Paribas upgraded Maplebear to a “strong sell” rating in a research report on Wednesday, January 14th. Finally, Argus started coverage on Maplebear in a research note on Wednesday, January 7th. They issued a “buy” rating and a $52.00 price objective for the company. Fifteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.62.

Maplebear Price Performance

The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 0.93 and a beta of 1.00. The firm has a fifty day moving average of $42.33 and a 200 day moving average of $42.51.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The company had revenue of $939.00 million for the quarter, compared to analyst estimates of $933.76 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Transactions at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of Maplebear stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $45.21, for a total transaction of $222,161.94. Following the transaction, the general counsel directly owned 404,940 shares of the company’s stock, valued at $18,307,337.40. The trade was a 1.20% 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. Insiders own 26.00% of the company’s stock.

Institutional Trading of Maplebear

Several hedge funds have recently made changes to their positions in CART. Hantz Financial Services Inc. lifted its holdings in Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after acquiring an additional 389 shares during the last quarter. Allworth Financial LP lifted its position in Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after buying an additional 244 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after buying an additional 787 shares during the period. Abich Financial Wealth Management LLC purchased a new position in Maplebear during the third quarter worth about $43,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Maplebear during the second quarter valued at about $53,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.