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

JPMorgan Chase & Co. grew its position in Maplebear Inc. (NASDAQ:CART) by 27.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,328,968 shares of the company’s stock after purchasing an additional 288,839 shares during the quarter. JPMorgan Chase & Co.’s holdings in Maplebear were worth $48,853,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Maplebear by 1.3% during the second quarter. State Street Corp now owns 5,101,870 shares of the company’s stock worth $230,809,000 after purchasing an additional 66,588 shares during the period. Boston Partners boosted its stake in Maplebear by 93.3% in the 2nd quarter. Boston Partners now owns 3,961,838 shares of the company’s stock valued at $179,261,000 after purchasing an additional 1,911,771 shares during the period. Viking Global Investors LP acquired a new position in Maplebear in the 2nd quarter valued at $169,782,000. Federated Hermes Inc. grew its holdings in Maplebear by 12.3% in the 2nd quarter. Federated Hermes Inc. now owns 3,179,537 shares of the company’s stock valued at $143,842,000 after buying an additional 347,153 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Maplebear by 75.9% during the 3rd quarter. Bank of America Corp DE now owns 3,036,736 shares of the company’s stock worth $111,630,000 after buying an additional 1,310,392 shares during the period. Institutional investors own 63.09% of the company’s stock.

Insider Activity

In other Maplebear news, 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 sale, the chief accounting officer directly owned 47,510 shares in the company, valued at $1,840,537.40. This represents a 16.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Morgan Fong sold 126,083 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the sale, the general counsel 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 140,387 shares of company stock valued at $5,262,349 in the last ninety days. 26.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CART shares. 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 decreased their price target on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Stifel Nicolaus lowered their price target on shares of Maplebear from $49.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. Jefferies Financial Group raised their price target on shares of Maplebear from $41.00 to $48.00 and gave the stock a “hold” rating in a research report on Thursday, December 11th. Finally, BNP Paribas Exane initiated coverage on shares of Maplebear in a research note on Wednesday, January 14th. They issued an “underperform” rating and a $41.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.04.

Maplebear Stock Performance

CART opened at $36.93 on Friday. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50. The firm has a market cap of $8.89 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 0.56 and a beta of 0.98. The business’s fifty day moving average is $37.42 and its 200-day moving average is $40.29.

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.