Diversified Trust Co Purchases 14,404 Shares of Maplebear Inc. (NASDAQ:CART)

Diversified Trust Co grew its position in Maplebear Inc. (NASDAQ:CART) by 141.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,563 shares of the company’s stock after acquiring an additional 14,404 shares during the period. Diversified Trust Co’s holdings in Maplebear were worth $1,001,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Sculptor Capital LP bought a new position in shares of Maplebear in the 2nd quarter valued at about $77,361,000. Federated Hermes Inc. grew its position in shares of Maplebear by 102.2% in the 2nd quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock valued at $55,739,000 after acquiring an additional 876,439 shares during the period. Industry Ventures L.L.C. grew its position in shares of Maplebear by 3.3% in the 2nd quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock valued at $31,512,000 after acquiring an additional 31,175 shares during the period. SG Americas Securities LLC bought a new position in shares of Maplebear in the 1st quarter valued at about $31,109,000. Finally, Lord Abbett & CO. LLC bought a new position in shares of Maplebear in the 1st quarter valued at about $28,674,000. Institutional investors own 63.09% of the company’s stock.

Insider Activity at Maplebear

In related news, CAO Alan Ramsay sold 2,626 shares of Maplebear stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $91,962.52. Following the sale, the chief accounting officer now directly owns 107,910 shares of the company’s stock, valued at approximately $3,779,008.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Alan Ramsay sold 2,626 shares of Maplebear stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $91,962.52. Following the sale, the chief accounting officer now directly owns 107,910 shares of the company’s stock, valued at approximately $3,779,008.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 33,000 shares of Maplebear stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the sale, the chief executive officer now directly owns 1,844,778 shares in the company, valued at $65,065,320.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,655 shares of company stock valued at $2,504,824. 36.00% of the stock is owned by insiders.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $44.00 on Wednesday. The firm has a 50 day moving average of $35.92 and a 200-day moving average of $35.05. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $44.06.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. The company had revenue of $823.00 million during the quarter, compared to analysts’ expectations of $806.35 million. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The firm’s revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts predict that Maplebear Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup raised their target price on shares of Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Bank of America raised their target price on shares of Maplebear from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Piper Sandler raised their target price on shares of Maplebear from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, KeyCorp assumed coverage on shares of Maplebear in a research note on Thursday, July 11th. They set a “sector weight” rating for the company. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.