Beaconlight Capital LLC Purchases 75,598 Shares of Maplebear Inc. (NASDAQ:CART)

Beaconlight Capital LLC lifted its holdings in Maplebear Inc. (NASDAQ:CART) by 54.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 213,797 shares of the company’s stock after acquiring an additional 75,598 shares during the period. Maplebear makes up approximately 3.5% of Beaconlight Capital LLC’s investment portfolio, making the stock its 14th largest position. Beaconlight Capital LLC owned about 0.08% of Maplebear worth $8,710,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CART. Vanguard Group Inc. increased its holdings in shares of Maplebear by 239.1% during the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock worth $7,961,000 after purchasing an additional 150,544 shares during the period. Industry Ventures L.L.C. lifted its position in Maplebear by 3.3% during the second quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock worth $31,512,000 after purchasing an additional 31,175 shares during the period. Renaissance Capital LLC grew its stake in Maplebear by 952.3% during the second quarter. Renaissance Capital LLC now owns 154,604 shares of the company’s stock worth $4,969,000 after buying an additional 139,912 shares in the last quarter. Diversified Trust Co bought a new position in Maplebear in the 2nd quarter valued at about $327,000. Finally, Great Valley Advisor Group Inc. lifted its holdings in shares of Maplebear by 32.1% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,300 shares of the company’s stock worth $331,000 after acquiring an additional 2,500 shares during the period. 63.09% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Alan Ramsay sold 2,247 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total transaction of $92,261.82. Following the transaction, the chief accounting officer now directly owns 89,982 shares of the company’s stock, valued at approximately $3,694,660.92. This represents a 2.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 29,253 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $48.03, for a total value of $1,405,021.59. Following the completion of the sale, the general counsel now directly owns 258,406 shares of the company’s stock, valued at $12,411,240.18. This trade represents a 10.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,204 shares of company stock worth $3,998,778 in the last quarter. 36.00% of the stock is owned by corporate insiders.

Maplebear Stock Down 0.1 %

Maplebear stock traded down $0.04 during trading hours on Wednesday, reaching $43.50. 2,258 shares of the company’s stock were exchanged, compared to its average volume of 3,994,007. The firm’s 50 day simple moving average is $43.06 and its 200 day simple moving average is $36.94. Maplebear Inc. has a twelve month low of $22.13 and a twelve month high of $50.01. The firm has a market capitalization of $11.17 billion, a PE ratio of 29.22, a PEG ratio of 1.13 and a beta of 1.12.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. During the same quarter last year, the firm posted ($20.86) earnings per share. The firm’s revenue was up 11.5% on a year-over-year basis. Analysts anticipate that Maplebear Inc. will post 1.4 EPS for the current year.

Wall Street Analysts Forecast Growth

CART has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Maplebear in a research note on Monday, October 7th. JMP Securities lifted their price target on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on shares of Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Benchmark reiterated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and an average target price of $47.29.

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.