Deutsche Bank AG Invests $73.80 Million in Maplebear Inc. $CART

Key Points

• Deutsche Bank acquired 1.56 million Maplebear shares worth approximately $73.8 million, giving it a 0.66% stake; institutional investors and hedge funds collectively own 63.09% of the company.
• Maplebear’s stock opened at $51.07, near its 12-month high of $51.82. The company’s latest quarterly revenue rose 14.1% year over year to $1.04 billion, though earnings per share of $0.45 missed analysts’ $0.54 estimate.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $55.90. Several firms recently raised their targets, including Needham to $63 and Citigroup to $58.

Deutsche Bank AG acquired a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,558,618 shares of the company's stock, valued at approximately $73,801,000. Deutsche Bank AG owned 0.66% of Maplebear at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CART. Allworth Financial LP grew its position 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 purchasing an additional 244 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Maplebear by 9.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company's stock worth $134,000 after purchasing an additional 261 shares during the last quarter. Rafferty Asset Management LLC lifted its position in shares of Maplebear by 2.5% during the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company's stock worth $498,000 after purchasing an additional 273 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in Maplebear by 5.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company's stock valued at $236,000 after purchasing an additional 304 shares during the period. Finally, Aviva PLC grew its holdings in Maplebear by 3.9% in the 4th quarter. Aviva PLC now owns 11,279 shares of the company's stock valued at $507,000 after buying an additional 424 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Stock Up 0.8%

Shares of CART opened at $51.07 on Friday. The company has a 50-day moving average price of $46.44 and a two-hundred day moving average price of $41.61. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 0.75 and a beta of 0.78. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $51.82.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company's revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts expect that Maplebear Inc. will post 2.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CART has been the subject of several research reports. Needham & Company LLC increased their price objective on Maplebear from $55.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Wells Fargo & Company increased their price target on shares of Maplebear from $47.00 to $54.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. Citigroup raised their price target on shares of Maplebear from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. BNP Paribas Exane upgraded shares of Maplebear from an "underperform" rating to a "neutral" rating and set a $56.00 price objective on the stock in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Maplebear in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.90.

Insiders Place Their Bets

In other news, Director Ravi Gupta sold 181,000 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the sale, the director owned 741,523 shares of the company's stock, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 24.00% of the stock is 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.

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