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

by · The Markets Daily

JPMorgan Chase & Co. raised its position in shares of Maplebear Inc. (NASDAQ:CART – Free Report) by 27.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,328,968 shares of the company’s stock after purchasing an additional 288,839 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.50% of Maplebear worth $48,853,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CART. State Street Corp boosted its stake in shares of Maplebear by 1.3% in the 2nd quarter. State Street Corp now owns 5,101,870 shares of the company’s stock valued at $230,809,000 after purchasing an additional 66,588 shares during the last quarter. Boston Partners lifted its holdings in Maplebear by 93.3% in the second quarter. Boston Partners now owns 3,961,838 shares of the company’s stock valued at $179,261,000 after buying an additional 1,911,771 shares during the period. Viking Global Investors LP bought a new stake in Maplebear during the second quarter valued at $169,782,000. Federated Hermes Inc. boosted its position in Maplebear by 12.3% during the second quarter. Federated Hermes Inc. now owns 3,179,537 shares of the company’s stock valued at $143,842,000 after acquiring an additional 347,153 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Maplebear by 6.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,099,372 shares of the company’s stock worth $140,237,000 after acquiring an additional 178,792 shares during the period. Institutional investors own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CART. Fox Advisors downgraded Maplebear from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 18th. Needham & Company LLC lifted their target price on Maplebear from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Benchmark cut their price target on Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Wall Street Zen raised shares of Maplebear from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Stifel Nicolaus lowered their price objective on shares of Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Fourteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $51.04.

Get Our Latest Analysis on CART

Maplebear Trading Up 5.2%

Maplebear stock opened at $38.44 on Friday. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00. The firm’s fifty day moving average price is $39.65 and its two-hundred day moving average price is $41.12. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50.

Insiders Place Their Bets

In related news, General Counsel Morgan Fong sold 4,914 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $45.21, for a total value of $222,161.94. Following the transaction, the general counsel owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. This trade represents a 1.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 26.00% of the company’s stock.

Maplebear Company Profile

(Free Report)

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.

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