Maplebear Inc. $CART Holdings Boosted by Sei Investments Co.

Sei Investments Co. raised its stake in Maplebear Inc. (NASDAQ:CART) by 26.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,153 shares of the company’s stock after acquiring an additional 41,270 shares during the period. Sei Investments Co.’s holdings in Maplebear were worth $7,460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its position in shares of Maplebear by 1.0% during the 4th quarter. State Street Corp now owns 5,461,637 shares of the company’s stock worth $245,664,000 after purchasing an additional 54,872 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Maplebear by 31.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company’s stock worth $186,618,000 after purchasing an additional 1,189,287 shares during the last quarter. Viking Global Investors LP acquired a new position in Maplebear during the 2nd quarter valued at approximately $169,782,000. Geode Capital Management LLC boosted its position in Maplebear by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company’s stock valued at $158,640,000 after purchasing an additional 54,010 shares during the period. Finally, Federated Hermes Inc. grew its stake in Maplebear by 3.2% during the 4th quarter. Federated Hermes Inc. now owns 3,287,952 shares of the company’s stock worth $147,892,000 after buying an additional 101,278 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the transaction, the director owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This trade represents a 19.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 24.00% of the stock is owned by corporate insiders.

Maplebear Price Performance

Shares of CART opened at $44.60 on Monday. The firm has a market capitalization of $10.48 billion, a PE ratio of 24.92, a P/E/G ratio of 0.61 and a beta of 0.78. The firm has a 50-day moving average price of $44.38 and a 200 day moving average price of $40.68. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $0.37 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities analysts expect that Maplebear Inc. will post 2.46 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Maplebear in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Maplebear from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Barclays increased their price objective on shares of Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Wedbush initiated coverage on shares of Maplebear in a research report on Thursday, July 16th. They issued an “outperform” rating and a $59.00 price objective on the stock. Finally, Weiss Ratings raised shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and an average target price of $51.67.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.