Diversified Trust Co Sells 14,787 Shares of Maplebear Inc. (NASDAQ:CART)

Diversified Trust Co reduced its position in Maplebear Inc. (NASDAQ:CART) by 60.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,776 shares of the company’s stock after selling 14,787 shares during the quarter. Diversified Trust Co’s holdings in Maplebear were worth $405,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. acquired a new position in Maplebear in the second quarter valued at $411,000. Rhumbline Advisers raised its position in shares of Maplebear by 571.0% in the 2nd quarter. Rhumbline Advisers now owns 149,618 shares of the company’s stock worth $4,809,000 after acquiring an additional 127,319 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Maplebear by 144.7% in the 2nd quarter. Victory Capital Management Inc. now owns 36,785 shares of the company’s stock valued at $1,182,000 after purchasing an additional 21,755 shares during the period. Arizona State Retirement System bought a new stake in shares of Maplebear during the 2nd quarter valued at about $838,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Maplebear during the second quarter worth approximately $1,933,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Stock Down 1.3 %

NASDAQ CART opened at $44.23 on Friday. The company has a market cap of $11.36 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04. The firm’s 50-day simple moving average is $43.59 and its two-hundred day simple moving average is $39.28. Maplebear Inc. has a 52 week low of $22.60 and a 52 week high of $50.01.

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

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 11,325 shares of Maplebear stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $42.97, for a total transaction of $486,635.25. Following the transaction, the general counsel now directly owns 287,659 shares of the company’s stock, valued at approximately $12,360,707.23. This trade represents a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the sale, the chief accounting officer now directly owns 87,735 shares of the company’s stock, valued at $3,697,152.90. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 112,128 shares of company stock worth $4,980,404 in the last three months. 36.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CART shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Maplebear in a research note on Monday, October 7th. Piper Sandler boosted their target price on shares of Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Bank of America raised their price target on shares of Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Raymond James began coverage on shares of Maplebear in a research note on Tuesday, September 24th. They issued a “market perform” rating for the company. Finally, Wells Fargo & Company initiated coverage on shares of Maplebear in a research report on Friday. They set an “equal weight” rating and a $47.00 price objective on the stock. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $47.13.

Maplebear 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.