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

Diversified Trust Co lowered its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 60.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CART. Pacer Advisors Inc. purchased a new position in Maplebear during the 3rd quarter worth $158,701,000. Geode Capital Management LLC boosted its holdings in Maplebear by 151.7% during the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock worth $111,361,000 after purchasing an additional 1,647,081 shares during the last quarter. Maverick Capital Ltd. grew its position in Maplebear by 19.7% in the 3rd quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company's stock worth $109,363,000 after purchasing an additional 441,156 shares in the last quarter. State Street Corp grew its position in Maplebear by 48.3% in the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company's stock worth $103,994,000 after purchasing an additional 831,795 shares in the last quarter. Finally, Southpoint Capital Advisors LP increased its stake in Maplebear by 56.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company's stock valued at $101,850,000 after buying an additional 900,000 shares during the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Trading Down 1.3 %

Shares of Maplebear stock traded down $0.59 on Friday, reaching $44.23. The stock had a trading volume of 6,075,492 shares, compared to its average volume of 4,003,749. The business's 50 day moving average is $43.59 and its two-hundred day moving average is $39.33. Maplebear Inc. has a 1 year low of $22.60 and a 1 year high of $50.01. The company has a market cap of $11.36 billion, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. The business had revenue of $852.00 million for the quarter, compared to analysts' expectations of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($20.86) EPS. On average, equities analysts anticipate that Maplebear Inc. will post 1.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Maplebear from $45.00 to $41.00 and set an "equal weight" rating for the company in a report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price objective on Maplebear from $47.00 to $52.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Wells Fargo & Company started coverage on Maplebear in a research report on Friday. They set an "equal weight" rating and a $47.00 target price for the company. Robert W. Baird boosted their price target on shares of Maplebear from $44.00 to $51.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Finally, JMP Securities raised their price objective on shares of Maplebear from $42.00 to $51.00 and gave the stock a "market outperform" rating in a report on Wednesday, November 13th. Fourteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $47.13.

Insiders Place Their Bets

In related news, General Counsel Morgan Fong sold 11,325 shares of the company's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $42.97, for a total value of $486,635.25. Following the completion of the transaction, the general counsel now directly owns 287,659 shares in the company, valued at approximately $12,360,707.23. The trade was a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total value of $92,261.82. Following the completion of the transaction, the chief accounting officer now directly owns 89,982 shares in the company, valued at approximately $3,694,660.92. This represents a 2.44 % decrease in their position. 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 ninety days. 36.00% of the stock is currently owned by insiders.

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.