Thrivent Financial for Lutherans Increases Stock Holdings in Maplebear Inc. $CART

Thrivent Financial for Lutherans grew its position in shares of Maplebear Inc. (NASDAQ:CART) by 3,054.0% during the third quarter, Holdings Channel.com reports. The fund owned 1,407,993 shares of the company’s stock after purchasing an additional 1,363,352 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Maplebear were worth $51,758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CART. Elevation Point Wealth Partners LLC purchased a new stake in shares of Maplebear during the second quarter valued at approximately $53,000. CWM LLC grew its stake in Maplebear by 42.2% in the 3rd quarter. CWM LLC now owns 1,634 shares of the company’s stock valued at $60,000 after purchasing an additional 485 shares during the period. SRH Advisors LLC bought a new position in Maplebear in the 2nd quarter valued at $61,000. Huntington National Bank increased its position in shares of Maplebear by 2,288.5% during the 2nd 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 during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Maplebear by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock worth $67,000 after purchasing an additional 698 shares during the period. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analysts Set New Price Targets

CART has been the subject of several research reports. Needham & Company LLC reduced their price target on shares of Maplebear from $66.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Stifel Nicolaus reduced their target price 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. BMO Capital Markets raised shares of Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a report on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a research note on Monday, December 29th. Finally, Argus began coverage on Maplebear in a research report on Wednesday, January 7th. They issued a “buy” rating and a $52.00 target price for the company. Fifteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.62.

Insider Activity

In related news, General Counsel Morgan Fong sold 4,914 shares of the stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $45.21, for a total transaction of $222,161.94. Following the sale, the general counsel owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. This represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 26.00% of the company’s stock.

Maplebear Trading Up 1.7%

Shares of CART stock opened at $37.81 on Tuesday. The firm’s 50 day moving average is $42.57 and its 200 day moving average is $42.64. The stock has a market capitalization of $9.93 billion, a P/E ratio of 20.77, a PEG ratio of 0.95 and a beta of 1.00. Maplebear Inc. has a 12 month low of $34.78 and a 12 month high of $53.50.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $939.00 million during the quarter, compared to analyst estimates of $933.76 million. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. Maplebear’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. On average, equities analysts predict that Maplebear Inc. will post 1.43 EPS for the current year.

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.