Maplebear (NASDAQ:CART) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Maplebear (NASDAQ:CART) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $37.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the stock. Raymond James started coverage on shares of Maplebear in a research note on Tuesday, September 24th. They issued a “market perform” rating on the stock. Wedbush increased their price target on shares of Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Morgan Stanley lowered their target price on Maplebear from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 24th. JMP Securities upped their price target on Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird raised their price objective on Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.82.

Maplebear Stock Down 3.9 %

Shares of Maplebear stock opened at $43.82 on Tuesday. Maplebear has a twelve month low of $22.13 and a twelve month high of $50.01. The company’s 50 day moving average is $43.52 and its 200 day moving average is $37.38. The company has a market cap of $11.26 billion, a price-to-earnings ratio of 29.41, a price-to-earnings-growth ratio of 1.13 and a beta of 0.94.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. The firm had revenue of $852.00 million for the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the business posted ($20.86) EPS. Sell-side analysts expect that Maplebear will post 1.4 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In related news, General Counsel Morgan Fong sold 10,992 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $41.38, for a total value of $454,848.96. Following the completion of the transaction, the general counsel now owns 298,984 shares of the company’s stock, valued at $12,371,957.92. The trade was a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $44.39, for a total transaction of $921,092.50. Following the sale, the chief executive officer now directly owns 1,803,278 shares of the company’s stock, valued at $80,047,510.42. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,954 shares of company stock worth $4,890,405 over the last quarter. Insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CART. CIBC Asset Management Inc raised its position in shares of Maplebear by 3.7% in the third 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 during the last quarter. Coldstream Capital Management Inc. grew its stake in shares of Maplebear by 1.6% in 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 during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Maplebear by 5.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock worth $493,000 after buying an additional 584 shares during the last quarter. Pier Capital LLC raised its position in shares of Maplebear by 0.4% during the 3rd quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock valued at $6,176,000 after buying an additional 616 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Maplebear in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

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.