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

JPMorgan Chase & Co. boosted its stake in Maplebear Inc. (NASDAQ:CART) by 27.8% in the third quarter, HoldingsChannel reports. The firm owned 1,328,968 shares of the company’s stock after buying an additional 288,839 shares during the period. JPMorgan Chase & Co.’s holdings in Maplebear were worth $48,853,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in shares of Maplebear by 9.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after purchasing an additional 261 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in Maplebear by 2.5% in the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after acquiring an additional 273 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after acquiring an additional 389 shares during the period. ProShare Advisors LLC grew its stake in Maplebear by 5.7% in the second quarter. ProShare Advisors LLC now owns 7,284 shares of the company’s stock valued at $330,000 after acquiring an additional 390 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of Maplebear by 0.8% during the third quarter. Arizona State Retirement System now owns 50,139 shares of the company’s stock valued at $1,843,000 after acquiring an additional 393 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

Maplebear Stock Up 5.2%

Maplebear stock opened at $38.44 on Friday. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $53.50. The company’s 50 day moving average price is $39.65 and its two-hundred day moving average price is $41.12. The stock has a market cap of $10.09 billion, a P/E ratio of 24.18, a P/E/G ratio of 0.56 and a beta of 1.00.

Analysts Set New Price Targets

Several research firms recently issued reports on CART. Stifel Nicolaus reduced their price target on shares of Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, January 27th. Argus assumed coverage on shares of Maplebear in a research note on Wednesday, January 7th. They issued a “buy” rating and a $52.00 price objective on the stock. Benchmark decreased their target price on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Citigroup lowered their target price on shares of Maplebear from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Finally, Wall Street Zen raised shares of Maplebear from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Fourteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Maplebear currently has a consensus rating of “Hold” and a consensus target price of $51.04.

Insider Buying and Selling

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was 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. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 26.00% of the company’s stock.

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.