Sei Investments Co. Makes New $825,000 Investment in Maplebear Inc. (NASDAQ:CART)

Sei Investments Co. purchased a new stake in Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,673 shares of the company’s stock, valued at approximately $825,000.

Several other large investors have also modified their holdings of CART. Canada Pension Plan Investment Board purchased a new stake in Maplebear in the 2nd quarter valued at approximately $7,212,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Maplebear in the second quarter worth $317,000. WCG Wealth Advisors LLC purchased a new stake in shares of Maplebear in the second quarter valued at $429,000. Seven Eight Capital LP purchased a new stake in shares of Maplebear in the second quarter valued at $2,632,000. Finally, Amalgamated Bank boosted its stake in shares of Maplebear by 545.2% during the second quarter. Amalgamated Bank now owns 9,427 shares of the company’s stock valued at $303,000 after acquiring an additional 7,966 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Trading Up 4.9 %

CART stock opened at $44.00 on Wednesday. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $44.06. The stock has a 50-day simple moving average of $35.92 and a 200-day simple moving average of $35.05.

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

Insider Buying and Selling

In other Maplebear news, General Counsel Morgan Fong sold 9,506 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were 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 of the company’s stock, valued at $13,039,171.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Maplebear news, General Counsel Morgan Fong sold 9,506 shares of Maplebear stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total transaction of $332,900.12. Following the sale, the general counsel now directly owns 372,335 shares in the company, valued at $13,039,171.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,626 shares of the company’s 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 transaction, the chief accounting officer now directly owns 107,910 shares in the company, valued at approximately $3,779,008.20. The trade was a 0.00 % decrease in their ownership of the stock. 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 quarter. Company insiders own 36.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Raymond James initiated coverage on shares of Maplebear in a research note on Tuesday, September 24th. They issued a “market perform” rating for the company. Benchmark reissued a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. KeyCorp assumed coverage on shares of Maplebear in a research note on Thursday, July 11th. They issued a “sector weight” rating for the company. Wolfe Research assumed coverage on Maplebear in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Morgan Stanley decreased their price objective on Maplebear from $45.00 to $41.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 24th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.33.

Maplebear 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.