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

JPMorgan Chase & Co. grew its stake in shares of Maplebear Inc. (NASDAQ:CART) by 27.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,328,968 shares of the company’s stock after buying an additional 288,839 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.50% of Maplebear worth $48,853,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Hantz Financial Services Inc. grew its position in Maplebear by 78.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after acquiring an additional 389 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in Maplebear in the third quarter valued at about $43,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Maplebear during the second quarter valued at about $53,000. Huntington National Bank boosted its stake in shares of Maplebear by 2,288.5% during the second quarter. Huntington National Bank now owns 1,457 shares of the company’s stock valued at $66,000 after purchasing an additional 1,396 shares in the last quarter. Finally, Spire Wealth Management grew its holdings in shares of Maplebear by 48.9% during the second quarter. Spire Wealth Management now owns 1,546 shares of the company’s stock worth $70,000 after purchasing an additional 508 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a report on Monday, December 29th. Fox Advisors downgraded shares of Maplebear from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 18th. JPMorgan Chase & Co. cut their price target on shares of Maplebear from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Stifel Nicolaus decreased their price objective on Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, January 27th. Finally, Needham & Company LLC raised their target price on Maplebear from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Fourteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $51.04.

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 4,914 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $45.21, for a total transaction of $222,161.94. Following the completion of the sale, the general counsel owned 404,940 shares of the company’s stock, valued at $18,307,337.40. This trade represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 26.00% of the stock is currently owned by insiders.

Maplebear Stock Up 5.2%

CART stock opened at $38.44 on Friday. The firm has a market cap of $10.09 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 0.56 and a beta of 1.00. The company’s fifty day simple moving average is $39.65 and its 200 day simple moving average is $41.12. Maplebear Inc. has a 12-month low of $32.73 and a 12-month high of $53.50.

Maplebear Company 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.