Dimension Capital Management LLC Sells 190,222 Shares of Maplebear Inc. (NASDAQ:CART)

Dimension Capital Management LLC trimmed its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 93.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,995 shares of the company's stock after selling 190,222 shares during the period. Dimension Capital Management LLC's holdings in Maplebear were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its holdings in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after purchasing an additional 222 shares during the period. Allworth Financial LP grew its holdings in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after purchasing an additional 420 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Maplebear by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 8,554 shares of the company's stock worth $354,000 after purchasing an additional 440 shares in the last quarter. Coldstream Capital Management Inc. increased its position in shares of Maplebear by 2.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 32,393 shares of the company's stock worth $1,342,000 after purchasing an additional 648 shares during the period. Finally, NewEdge Advisors LLC lifted its position in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after purchasing an additional 717 shares during the period. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Trading Up 2.2%

NASDAQ CART traded up $0.95 during mid-day trading on Tuesday, hitting $44.56. The company's stock had a trading volume of 1,405,352 shares, compared to its average volume of 4,093,914. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 1.19 and a beta of 1.19. The company's 50 day simple moving average is $40.66 and its 200 day simple moving average is $43.52. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

CART has been the topic of a number of research reports. FBN Securities began coverage on shares of Maplebear in a research note on Friday, March 28th. They set a "sector perform" rating and a $44.00 target price on the stock. Oppenheimer dropped their target price on Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Loop Capital reduced their price target on Maplebear from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Mizuho dropped their price objective on shares of Maplebear from $55.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Maplebear has a consensus rating of "Moderate Buy" and an average price target of $50.61.

Insider Activity

In related news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the sale, the chief executive officer now directly owns 1,662,692 shares of the company's stock, valued at approximately $72,011,190.52. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction on Monday, April 21st. The stock was sold at an average price of $42.57, for a total value of $223,449.93. Following the sale, the general counsel now owns 484,292 shares in the company, valued at $20,616,310.44. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock worth $1,541,785 over the last 90 days. 26.00% of the stock is currently owned by corporate insiders.

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.