1,558,618 Shares in Maplebear Inc. $CART Acquired by Deutsche Bank AG

Deutsche Bank AG purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART) in the second quarter, Holdings Channel.com reports. The fund purchased 1,558,618 shares of the company’s stock, valued at approximately $73,801,000.

Other institutional investors have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. acquired a new position in Maplebear in the first quarter worth $25,000. PenderFund Capital Management Ltd. acquired a new stake in shares of Maplebear in the fourth quarter valued at $27,000. Allworth Financial LP raised its holdings in shares of 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. IFP Advisors Inc raised its holdings in shares of Maplebear by 761.3% in the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after buying an additional 845 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its position in Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after buying an additional 787 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on CART shares. Benchmark increased their price objective on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Wedbush initiated coverage on shares of Maplebear in a research note on Thursday, July 16th. They issued an “outperform” rating and a $59.00 target price for the company. Citizens Jmp reiterated a “market outperform” rating and set a $60.00 target price on shares of Maplebear in a research report on Monday, June 15th. JPMorgan Chase & Co. increased their price target on shares of Maplebear from $55.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Needham & Company LLC raised their price target on shares of Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.90.

Maplebear Trading Up 0.8%

Maplebear stock opened at $51.07 on Friday. The company has a market cap of $11.82 billion, a PE ratio of 27.91, a PEG ratio of 0.75 and a beta of 0.78. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $51.82. The company’s 50-day moving average is $46.44 and its two-hundred day moving average is $41.61.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Research analysts forecast that Maplebear Inc. will post 2.33 EPS for the current year.

Insider Buying and Selling at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the transaction, the director owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This represents a 19.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 24.00% of the stock is currently owned by company insiders.

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.