JPMorgan Chase & Co. Has $48.85 Million Position in Maplebear Inc. $CART

JPMorgan Chase & Co. grew its position in Maplebear Inc. (NASDAQ:CART) by 27.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,328,968 shares of the company’s stock after purchasing an additional 288,839 shares during the period. JPMorgan Chase & Co. owned about 0.51% of Maplebear worth $48,853,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Viking Global Investors LP acquired a new position in shares of Maplebear in the 2nd quarter valued at $169,782,000. Holocene Advisors LP bought a new stake in shares of Maplebear in the 3rd quarter valued at $90,167,000. Norges Bank acquired a new stake in Maplebear during the 2nd quarter worth $97,351,000. Boston Partners raised its position in shares of Maplebear by 93.3% during the second quarter. Boston Partners now owns 3,961,838 shares of the company’s stock worth $179,261,000 after purchasing an additional 1,911,771 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in Maplebear by 3,054.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,407,993 shares of the company’s stock worth $51,758,000 after buying an additional 1,363,352 shares during the period. 63.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on CART shares. Wells Fargo & Company dropped their price target on Maplebear from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, February 13th. Benchmark dropped their price target on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Argus raised shares of Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Wall Street Zen upgraded shares of Maplebear from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, Fox Advisors cut shares of Maplebear from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $51.04.

Maplebear Trading Up 1.2%

CART opened at $36.93 on Friday. The stock’s fifty day simple moving average is $37.42 and its 200 day simple moving average is $40.29. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50. The stock has a market cap of $8.89 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 0.56 and a beta of 0.98.

Insider Buying and Selling at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 126,083 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the transaction, the general counsel directly owned 386,643 shares in the company, valued at $14,340,588.87. The trade was a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $38.74, for a total transaction of $363,768.60. Following the completion of the transaction, the chief accounting officer directly owned 47,510 shares in the company, valued at $1,840,537.40. The trade was a 16.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 140,387 shares of company stock worth $5,262,349. Corporate insiders own 26.00% of the company’s stock.

Maplebear Profile

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.