Atomi Financial Group Inc. Purchases 10,909 Shares of Maplebear Inc. (NASDAQ:CART)

Atomi Financial Group Inc. raised its position in shares of Maplebear Inc. (NASDAQ:CART) by 55.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,719 shares of the company’s stock after acquiring an additional 10,909 shares during the period. Atomi Financial Group Inc.’s holdings in Maplebear were worth $1,251,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Renaissance Capital LLC lifted its stake in Maplebear by 4.3% in the first quarter. Renaissance Capital LLC now owns 14,692 shares of the company’s stock worth $548,000 after acquiring an additional 607 shares during the period. Creative Planning increased its holdings in shares of Maplebear by 9.5% during the second quarter. Creative Planning now owns 9,566 shares of the company’s stock valued at $307,000 after acquiring an additional 831 shares in the last quarter. nVerses Capital LLC increased its holdings in shares of Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after acquiring an additional 1,600 shares in the last quarter. Cantor Fitzgerald L. P. increased its holdings in shares of Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after acquiring an additional 2,489 shares in the last quarter. Finally, Great Valley Advisor Group Inc. increased its holdings in shares of Maplebear by 32.1% during the second quarter. Great Valley Advisor Group Inc. now owns 10,300 shares of the company’s stock valued at $331,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of CART stock opened at $44.00 on Wednesday. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $44.06. The stock’s fifty day moving average is $35.92 and its two-hundred day moving average is $35.05.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on CART shares. Wedbush increased their price target on shares of Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Bank of America increased their price target on shares of Maplebear from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Macquarie increased their price target on shares of Maplebear from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. BMO Capital Markets raised their price objective on shares of Maplebear from $36.00 to $39.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 9,506 shares of the firm’s stock in a transaction on 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 sale, the general counsel now directly owns 372,335 shares of the company’s stock, valued at $13,039,171.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 transaction of $332,900.12. Following the completion of the sale, the general counsel now directly owns 372,335 shares of the company’s stock, valued at approximately $13,039,171.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total value of $1,163,910.00. Following the sale, the chief executive officer now directly owns 1,844,778 shares of the company’s stock, valued at $65,065,320.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,655 shares of company stock valued at $2,504,824 in the last three months. 36.00% of the stock is currently owned by insiders.

Maplebear Company Profile

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.