Beaconlight Capital LLC Sells 140,219 Shares of Maplebear Inc. (NASDAQ:CART)

Beaconlight Capital LLC lowered its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 65.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 73,578 shares of the company's stock after selling 140,219 shares during the period. Maplebear makes up about 1.1% of Beaconlight Capital LLC's investment portfolio, making the stock its 20th largest holding. Beaconlight Capital LLC's holdings in Maplebear were worth $3,048,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CART. Jones Financial Companies Lllp grew 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 valued at $29,000 after buying an additional 222 shares in the last quarter. Allworth Financial LP grew its stake in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after acquiring an additional 420 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Maplebear by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 8,554 shares of the company's stock valued at $354,000 after purchasing an additional 440 shares during the period. Coldstream Capital Management Inc. increased its holdings in shares of Maplebear by 2.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 32,393 shares of the company's stock valued at $1,342,000 after purchasing an additional 648 shares during the period. Finally, NewEdge Advisors LLC lifted its position in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after purchasing an additional 717 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

Maplebear Price Performance

Shares of CART traded up $0.05 during trading hours on Wednesday, hitting $45.66. The stock had a trading volume of 2,377,948 shares, compared to its average volume of 4,126,785. The stock has a market capitalization of $11.99 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The company's fifty day moving average is $40.28 and its two-hundred day moving average is $43.52.

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

Insider Buying and Selling

In other news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the transaction, the chief executive officer now owns 1,654,559 shares of the company's stock, valued at $66,182,360. This represents a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of the firm's 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 completion of the transaction, the general counsel now owns 484,292 shares in the company, valued at $20,616,310.44. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,165 shares of company stock worth $1,541,785 in the last quarter. Insiders own 26.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Mizuho dropped their price objective on shares of Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus cut their price objective on Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. FBN Securities began coverage on Maplebear in a research note on Friday, March 28th. They set a "sector perform" rating and a $44.00 price target for the company. Finally, Benchmark reiterated a "hold" rating on shares of Maplebear in a research note on Wednesday, February 26th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Maplebear currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.61.

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.