Diversify Wealth Management LLC Takes Position in Maplebear Inc. (NASDAQ:CART)

Diversify Wealth Management LLC acquired a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,668 shares of the company's stock, valued at approximately $584,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proathlete Wealth Management LLC acquired a new position in shares of Maplebear in the first quarter valued at approximately $26,000. Jones Financial Companies Lllp increased its stake in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after buying an additional 222 shares during the period. NewEdge Advisors LLC increased its stake in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after buying an additional 717 shares during the period. UMB Bank n.a. increased its stake in shares of Maplebear by 914.1% in the first quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after buying an additional 905 shares during the period. Finally, Spire Wealth Management acquired a new position in shares of Maplebear in the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Insider Transactions at Maplebear

In other Maplebear news, CEO Fidji Simo sold 14,233 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $47.86, for a total value of $681,191.38. Following the completion of the transaction, the chief executive officer owned 2,032,005 shares in the company, valued at $97,251,759.30. This trade represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total value of $223,449.93. Following the completion of the transaction, the general counsel owned 484,292 shares of the company's stock, valued at approximately $20,616,310.44. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,387 shares of company stock worth $1,310,570. 26.00% of the stock is owned by company insiders.

Maplebear Price Performance

Shares of Maplebear stock traded down $0.87 during trading hours on Wednesday, hitting $47.80. 4,337,749 shares of the company's stock traded hands, compared to its average volume of 3,953,768. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The stock has a market capitalization of $12.55 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 2.02 and a beta of 1.21. The company has a fifty day simple moving average of $45.67 and a 200-day simple moving average of $44.18.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. On average, analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on CART. Loop Capital upped their target price on Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a report on Monday, May 19th. Stifel Nicolaus reduced their target price on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. JPMorgan Chase & Co. cut their price target on Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Jefferies Financial Group increased their price target on Maplebear from $48.00 to $50.00 and gave the stock a "hold" rating in a report on Tuesday, May 27th. Twelve analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.91.

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.