Maplebear Inc. (NASDAQ:CART) Holdings Decreased by Atomi Financial Group Inc.

Atomi Financial Group Inc. reduced its holdings in Maplebear Inc. (NASDAQ:CART) by 29.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and 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 reporting period.

A number of other institutional investors have also recently bought and sold shares of CART. Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear in the third quarter worth approximately $33,000. Huntington National Bank acquired a new position in Maplebear in the 3rd quarter valued at approximately $54,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Maplebear in the 3rd quarter worth approximately $74,000. Quarry LP boosted its stake in shares of Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after buying an additional 2,865 shares during the period. Finally, Vinva Investment Management Ltd purchased a new position in shares of Maplebear during the 3rd quarter valued at $212,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on CART. Loop Capital increased their price objective on Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company started coverage on Maplebear in a report on Friday, January 10th. They set an “equal weight” rating and a $47.00 price target for the company. Oppenheimer increased their price objective on Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. BMO Capital Markets lifted their target price on shares of Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC raised shares of Maplebear from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, January 13th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.96.

Insider Buying and Selling at Maplebear

In related news, General Counsel Morgan Fong sold 29,253 shares of Maplebear stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total transaction of $92,261.82. Following the sale, the chief accounting officer now directly owns 89,982 shares in the company, valued at $3,694,660.92. This represents a 2.44 % 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 worth $4,383,809 over the last three months. Company insiders own 36.00% of the company’s stock.

Maplebear Trading Down 3.9 %

Shares of CART stock opened at $44.61 on Thursday. The stock has a 50 day moving average of $43.42 and a two-hundred day moving average of $40.01. The company has a market capitalization of $11.46 billion, a P/E ratio of 29.94, a P/E/G ratio of 1.05 and a beta of 1.04. Maplebear Inc. has a 12 month low of $23.59 and a 12 month high of $50.01.

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