Sei Investments Co. Takes $825,000 Position in Maplebear Inc. (NASDAQ:CART)

Sei Investments Co. purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and 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 recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new stake in shares of Maplebear during the 2nd quarter valued at about $7,212,000. Public Employees Retirement Association of Colorado acquired a new position in Maplebear during the 2nd quarter valued at approximately $317,000. WCG Wealth Advisors LLC acquired a new stake in Maplebear in the second quarter worth $429,000. Seven Eight Capital LP bought a new stake in Maplebear in the 2nd quarter valued at about $2,632,000. Finally, Amalgamated Bank raised its holdings 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 buying an additional 7,966 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 2,486 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $41.39, for a total value of $102,895.54. Following the completion of the sale, the chief accounting officer now directly owns 99,225 shares of the company’s stock, valued at $4,106,922.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Alan Ramsay sold 2,486 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $41.39, for a total transaction of $102,895.54. Following the completion of the sale, the chief accounting officer now directly owns 99,225 shares in the company, valued at approximately $4,106,922.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Fidji Simo sold 33,000 shares of Maplebear stock in a transaction on Wednesday, August 28th. The shares were 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 approximately $65,065,320.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,655 shares of company stock valued at $2,504,824 in the last 90 days. 36.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CART. Morgan Stanley decreased their target price on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 24th. Bank of America increased their price objective on shares of Maplebear from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Raymond James initiated coverage on Maplebear in a report on Tuesday, September 24th. They set a “market perform” rating on the stock. KeyCorp initiated coverage on Maplebear in a research report on Thursday, July 11th. They issued a “sector weight” rating for the company. Finally, Wolfe Research initiated coverage on Maplebear in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Maplebear Stock Performance

CART stock opened at $44.00 on Wednesday. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $44.06. The company’s 50 day simple moving average is $35.92 and its 200-day simple moving average is $35.05.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $806.35 million. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, research analysts anticipate that Maplebear Inc. will post 1.12 EPS for the current fiscal year.

About Maplebear

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.