Deutsche Bank Aktiengesellschaft Initiates Coverage on Maplebear (NASDAQ:CART)

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Maplebear (NASDAQ:CART) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage set a “hold” rating and a $37.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential downside of 18.84% from the company’s previous close.

CART has been the subject of several other research reports. JPMorgan Chase & Co. boosted their price target on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Oppenheimer boosted their price target on shares of Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Raymond James assumed coverage on shares of Maplebear in a report on Tuesday, September 24th. They set a “market perform” rating for the company. Citigroup boosted their price target on shares of Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Morgan Stanley lowered their price target on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Tuesday, September 24th. Thirteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $46.82.

Maplebear Stock Performance

Shares of CART stock opened at $45.59 on Tuesday. The stock has a market capitalization of $11.71 billion, a P/E ratio of 30.60, a price-to-earnings-growth ratio of 1.13 and a beta of 0.94. The company has a 50 day moving average price of $43.44 and a 200 day moving average price of $37.34. Maplebear has a fifty-two week low of $22.13 and a fifty-two week high of $50.01.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. The firm had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($20.86) earnings per share. On average, research analysts forecast that Maplebear will post 1.4 EPS for the current fiscal year.

Insider Transactions at Maplebear

In related news, General Counsel Morgan Fong sold 29,253 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.03, for a total value of $1,405,021.59. Following the sale, the general counsel now directly owns 258,406 shares of the company’s stock, valued at approximately $12,411,240.18. This represents a 10.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated 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 directly owns 1,804,243 shares in the company, valued at approximately $77,528,321.71. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,954 shares of company stock valued at $4,890,405 in the last ninety days. 36.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Maplebear

A number of large investors have recently added to or reduced their stakes in CART. Wilmington Savings Fund Society FSB purchased a new position in shares of Maplebear during the 3rd quarter worth about $33,000. Huntington National Bank purchased a new position in shares of Maplebear during the 3rd quarter worth about $54,000. nVerses Capital LLC lifted its holdings in shares of Maplebear by 1,600.0% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after acquiring an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Maplebear during the 3rd quarter worth about $74,000. Finally, Quarry LP lifted its holdings in shares of Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after acquiring an additional 2,865 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

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.