Maplebear Inc. (NASDAQ: CART) stock jumped 0.84% on Friday to $25.25 against a previous-day closing price of $25.04. With 0.7 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.37 million shares. During the session, the Internet Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $25.43 whereas the lowest price it dropped to was $24.89. The 52-week range on CART shows that it touched its highest point at $42.95 and its lowest point at $23.36 during that stretch. It currently has a 1-year price target of $35.64.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CART was up-trending over the past week, with a rise of 0.16%, but this was up by 3.36% over a month.
Float and Shares Shorts:
At present, 276.65 million CART shares are outstanding with a float of 134.81 million shares on hand for trading. On Oct 30, 2023, short shares totaled 5.59 million, which was 2.02% higher than short shares on Sep 28, 2023. In addition to Ms. Fidji Simo as the firm’s CEO & Chair, Mr. Nick Giovanni serves as its CFO & Treasurer.
Other institutions hold 28.68% of CART, in contrast to 2.24% held by mutual funds. As the largest shareholder in CART with 10.32% of the stake, D1 Capital Partners LP holds 28,906,880 shares worth 28,906,880. A second-largest stockholder of CART, Coatue Management LLC, holds 10,277,443 shares, controlling over 3.67% of the firm’s shares. GCM Grosvenor Holdings LLC is the third largest shareholder in CART, holding 9,005,196 shares or 3.21% stake. With a 0.50% stake in CART, the T Rowe Price Science & Technology is the largest stakeholder. A total of 1,412,040 shares are owned by the mutual fund manager. The American Funds New Economy Fund, which owns about 0.44% of CART stock, is the second-largest Mutual Fund holder. It holds 1,228,755 shares valued at 30.26 million. FTIF SICAV – Technology Fund holds 0.21% of the stake in CART, owning 600,000 shares worth 14.78 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CART since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CART analysts setting a high price target of $48.00 and a low target of $30.00, the average target price over the next 12 months is $35.64. Based on these targets, CART could surge 90.1% to reach the target high and rise by 18.81% to reach the target low. Reaching the average price target will result in a growth of 41.15% from current levels.
Summary of Insider Activity:
Insiders traded CART stock several times over the past three months with 76 Buys and 32 Sells. In these transactions, 138,179,118 shares were bought while 5,020,401 shares were sold. The number of buy transactions has increased to 76 while that of sell transactions has risen to 32 over the past year. The total number of shares bought during that period was 138,179,118 while 5,020,401 shares were sold.