Deutsche Bank AG Sells 206,518 Shares of Maplebear Inc. $CART

Key Points

• Deutsche Bank AG reduced its holdings in Maplebear Inc. by 88.8%, selling 206,518 shares to end the quarter with 26,112 shares valued at approximately $1,042,000.
• Maplebear reported a quarterly earnings of $0.41 EPS, surpassing estimates, with revenue reaching $914 million, an increase of 11.1% year-over-year.
• Analysts have a consensus rating of "Moderate Buy" for Maplebear, with price targets ranging from $50 to $67, reflecting optimism about the company’s growth prospects.

Deutsche Bank AG lessened its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 88.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,112 shares of the company's stock after selling 206,518 shares during the quarter. Deutsche Bank AG's holdings in Maplebear were worth $1,042,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Proathlete Wealth Management LLC bought a new position in shares of Maplebear during the 1st quarter worth approximately $26,000. NewEdge Advisors LLC raised its stake in Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after acquiring an additional 717 shares during the period. UMB Bank n.a. lifted its holdings in Maplebear by 914.1% during the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after purchasing an additional 905 shares during the last quarter. Spire Wealth Management bought a new position in Maplebear during the first quarter worth $41,000. Finally, CWM LLC increased its holdings in shares of Maplebear by 35.1% in the first quarter. CWM LLC now owns 1,058 shares of the company's stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. Institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup raised their target price on shares of Maplebear from $57.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Wedbush reissued an "underperform" rating and issued a $42.00 price target (down from $55.00) on shares of Maplebear in a report on Thursday, August 21st. Wall Street Zen upgraded Maplebear from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Bank of America increased their target price on Maplebear from $53.00 to $58.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Finally, Sanford C. Bernstein lifted their price target on Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.63.

Maplebear Trading Up 1.3%

CART stock traded up $0.56 during mid-day trading on Thursday, hitting $43.85. The stock had a trading volume of 2,662,554 shares, compared to its average volume of 4,383,214. The firm has a fifty day simple moving average of $46.85 and a 200 day simple moving average of $44.51. The firm has a market capitalization of $11.55 billion, a P/E ratio of 25.35, a P/E/G ratio of 1.44 and a beta of 1.21. Maplebear Inc. has a 52 week low of $33.17 and a 52 week high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.20 EPS. As a group, equities analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Transactions at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 4,680 shares of Maplebear stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $49.16, for a total value of $230,068.80. Following the transaction, the general counsel owned 452,000 shares in the company, valued at $22,220,320. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $47.75, for a total value of $232,268,988.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,975,327 shares of company stock worth $237,736,848. 26.00% of the stock is owned by insiders.

About Maplebear

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.