Dimension Capital Management LLC Boosts Stock Position in Maplebear Inc. (NASDAQ:CART)

Dimension Capital Management LLC increased its position in Maplebear Inc. (NASDAQ:CART) by 1,380.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,799 shares of the company’s stock after acquiring an additional 195,624 shares during the quarter. Maplebear comprises approximately 1.4% of Dimension Capital Management LLC’s holdings, making the stock its 18th biggest position. Dimension Capital Management LLC owned about 0.08% of Maplebear worth $6,743,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CART. Alpha DNA Investment Management LLC bought a new position in shares of Maplebear in the second quarter worth about $477,000. Marshall Wace LLP lifted its holdings in Maplebear by 34.1% in the 2nd quarter. Marshall Wace LLP now owns 726,582 shares of the company’s stock worth $23,352,000 after purchasing an additional 184,569 shares in the last quarter. Davidson Kempner Capital Management LP bought a new position in Maplebear in the 2nd quarter worth approximately $6,424,000. Bank of Montreal Can grew its holdings in Maplebear by 157.6% during the 2nd quarter. Bank of Montreal Can now owns 113,417 shares of the company’s stock valued at $3,729,000 after buying an additional 69,388 shares in the last quarter. Finally, Adams Street Partners LLC bought a new stake in shares of Maplebear during the second quarter valued at approximately $1,535,000. Institutional investors own 63.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Benchmark restated a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. Piper Sandler upped their price objective on Maplebear from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Raymond James initiated coverage on shares of Maplebear in a report on Tuesday. They issued a “market perform” rating for the company. Needham & Company LLC reissued a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Finally, Bank of America upped their price objective on Maplebear from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Maplebear Price Performance

CART stock opened at $40.50 on Thursday. The firm has a 50-day simple moving average of $35.03 and a two-hundred day simple moving average of $34.84. Maplebear Inc. has a one year low of $22.13 and a one year high of $42.58.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.07. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The business had revenue of $823.00 million for the quarter, compared to analyst estimates of $806.35 million. Maplebear’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities research analysts expect that Maplebear Inc. will post 1.12 earnings per share for the current year.

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 value of $91,962.52. Following the completion of the sale, the chief accounting officer now directly owns 107,910 shares in the company, valued at approximately $3,779,008.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Morgan Fong sold 9,506 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $332,900.12. Following the completion of the transaction, the general counsel now directly owns 372,335 shares in the company, valued at $13,039,171.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Alan Ramsay sold 2,626 shares of Maplebear stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value 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 disclosure for this sale can be found here. Insiders have sold 67,655 shares of company stock valued at $2,504,824 in the last ninety days. Corporate insiders own 36.00% of the company’s stock.

About Maplebear

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.