Atomi Financial Group Inc. Has $901,000 Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Atomi Financial Group Inc. decreased its stake in shares of Maplebear Inc. (NASDAQ:CART) by 29.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 21,749 shares of the company’s stock after selling 8,970 shares during the period. Atomi Financial Group Inc.’s holdings in Maplebear were worth $901,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CART. Paragon Capital Management Ltd lifted its position in shares of Maplebear by 33.3% during the fourth quarter. Paragon Capital Management Ltd now owns 12,740 shares of the company’s stock worth $528,000 after purchasing an additional 3,185 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Maplebear in the 4th quarter valued at $1,166,000. Watts Gwilliam & Co. LLC increased its stake in shares of Maplebear by 39.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 7,300 shares of the company’s stock valued at $313,000 after buying an additional 2,047 shares during the period. Nordea Investment Management AB bought a new stake in shares of Maplebear during the fourth quarter worth $2,078,000. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Maplebear by 370.9% during the third quarter. Lord Abbett & CO. LLC now owns 859,006 shares of the company’s stock valued at $34,996,000 after acquiring an additional 676,605 shares during the period. Institutional investors own 63.09% of the company’s stock.

Maplebear Trading Down 3.9 %

Shares of CART opened at $44.61 on Thursday. Maplebear Inc. has a 12 month low of $23.59 and a 12 month high of $50.01. The firm has a fifty day simple moving average of $43.42 and a 200 day simple moving average of $40.01. The stock has a market capitalization of $11.46 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.05 and a beta of 1.04.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating 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 company had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. During the same quarter last year, the company earned ($20.86) EPS. Maplebear’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, research analysts predict that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CART shares. Piper Sandler lifted their price objective on Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Loop Capital boosted their price target on shares of Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Robert W. Baird increased their price objective on shares of Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. JMP Securities lifted their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. increased their price target on Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.96.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $44.39, for a total value of $921,092.50. Following the completion of the transaction, the chief executive officer now owns 1,803,278 shares of the company’s stock, valued at $80,047,510.42. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Alan Ramsay sold 2,247 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the sale, the chief accounting officer now directly owns 87,735 shares in the company, valued at approximately $3,697,152.90. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 98,244 shares of company stock valued at $4,383,809 in the last 90 days. 36.00% of the stock is currently owned by insiders.

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.