Atomi Financial Group Inc. Sells 8,970 Shares of Maplebear Inc. (NASDAQ:CART)

Atomi Financial Group Inc. lessened its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 29.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new position in shares of Maplebear in the 3rd quarter worth approximately $158,701,000. Geode Capital Management LLC raised its stake in Maplebear by 151.7% during the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock worth $111,361,000 after acquiring an additional 1,647,081 shares in the last quarter. Maverick Capital Ltd. lifted its holdings in shares of Maplebear by 19.7% during the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company's stock valued at $109,363,000 after acquiring an additional 441,156 shares during the period. State Street Corp lifted its holdings in shares of Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company's stock valued at $103,994,000 after acquiring an additional 831,795 shares during the period. Finally, Southpoint Capital Advisors LP grew its holdings in shares of Maplebear by 56.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company's stock worth $101,850,000 after purchasing an additional 900,000 shares during the last quarter. Institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CART. Needham & Company LLC raised shares of Maplebear from a "hold" rating to a "buy" rating and set a $56.00 price target for the company in a report on Monday, January 13th. Barclays boosted their target price on Maplebear from $48.00 to $56.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. BTIG Research raised Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price target for the company in a report on Tuesday, January 14th. BMO Capital Markets increased their target price on Maplebear from $39.00 to $48.00 and gave the stock a "market perform" rating in a report on Wednesday, November 13th. Finally, Loop Capital lifted their price target on Maplebear from $49.00 to $56.00 and gave the company a "buy" rating in a report on Monday, December 9th. Thirteen investment 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 company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $48.96.

Insider Buying and Selling

In other news, CEO Fidji Simo sold 20,750 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the sale, the chief executive officer now directly owns 1,771,993 shares in the company, valued at $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $42.14, for a total value of $94,688.58. Following the transaction, the chief accounting officer now owns 87,735 shares of the company's stock, 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. In the last three months, insiders sold 98,244 shares of company stock valued at $4,383,809. 36.00% of the stock is owned by corporate insiders.

Maplebear Trading Up 1.9 %

Shares of CART stock traded up $0.84 on Thursday, hitting $45.45. The stock had a trading volume of 1,885,951 shares, compared to its average volume of 5,453,352. Maplebear Inc. has a twelve month low of $23.59 and a twelve month high of $50.01. The company has a fifty day moving average price of $43.45 and a two-hundred day moving average price of $40.04. The firm has a market cap of $11.68 billion, a P/E ratio of 30.50, a PEG ratio of 1.08 and a beta of 1.04.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.20. The firm had revenue of $852.00 million during the quarter, compared to analysts' expectations of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company's revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($20.86) earnings per share. On average, analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current year.

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.