Maplebear (NASDAQ:CART) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Maplebear (NASDAQ:CART) in a report released on Tuesday morning, MarketBeat reports. The firm issued a hold rating and a $37.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group assumed coverage on shares of Maplebear in a report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 price objective for the company. 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 research note on Tuesday, September 24th. Raymond James initiated coverage on shares of Maplebear in a research report on Tuesday, September 24th. They set a “market perform” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a report on Wednesday, November 13th. Finally, BMO Capital Markets boosted their target price on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Thirteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $46.82.

Maplebear Stock Down 3.9 %

CART opened at $43.82 on Tuesday. The business’s fifty day simple moving average is $43.52 and its 200 day simple moving average is $37.38. Maplebear has a 52 week low of $22.13 and a 52 week high of $50.01. The stock has a market cap of $11.26 billion, a PE ratio of 29.41, a P/E/G ratio of 1.13 and a beta of 0.94.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.22 by $0.20. The firm had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company earned ($20.86) EPS. As a group, equities analysts anticipate that Maplebear will post 1.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Morgan Fong sold 29,253 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the sale, the general counsel now owns 258,406 shares in the company, valued at approximately $12,411,240.18. The trade was a 10.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $44.39, for a total transaction of $921,092.50. Following the transaction, the chief executive officer now directly owns 1,803,278 shares of the company’s stock, valued at approximately $80,047,510.42. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,954 shares of company stock worth $4,890,405. Company insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

Hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of Maplebear in the 3rd quarter worth about $33,000. Huntington National Bank bought a new position in shares of Maplebear in the third quarter worth approximately $54,000. nVerses Capital LLC grew its holdings in shares of Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after buying an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Maplebear during the third quarter valued at approximately $74,000. Finally, Quarry LP lifted its position in Maplebear by 269.5% in the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after acquiring an additional 2,865 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

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.