Thrivent Financial for Lutherans Has $51.76 Million Holdings in Maplebear Inc. $CART

Thrivent Financial for Lutherans grew its position in Maplebear Inc. (NASDAQ:CART) by 3,054.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,407,993 shares of the company’s stock after buying an additional 1,363,352 shares during the period. Thrivent Financial for Lutherans owned approximately 0.53% of Maplebear worth $51,758,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CART. Nordea Investment Management AB increased its holdings in shares of Maplebear by 128.4% during the third quarter. Nordea Investment Management AB now owns 119,828 shares of the company’s stock worth $4,254,000 after buying an additional 67,374 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Maplebear by 7.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,040,129 shares of the company’s stock worth $47,055,000 after purchasing an additional 72,643 shares in the last quarter. Champlain Investment Partners LLC raised its position in Maplebear by 64.4% in the second quarter. Champlain Investment Partners LLC now owns 2,157,010 shares of the company’s stock valued at $97,583,000 after purchasing an additional 845,070 shares during the last quarter. Sentry Investment Management LLC bought a new stake in shares of Maplebear during the second quarter worth about $391,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Maplebear by 261.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 99,868 shares of the company’s stock valued at $4,518,000 after buying an additional 72,265 shares during the period. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Maplebear stock opened at $37.81 on Tuesday. Maplebear Inc. has a 52-week low of $34.78 and a 52-week high of $53.50. The stock’s 50 day moving average price is $42.57 and its two-hundred day moving average price is $42.64. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 0.95 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

CART has been the subject of several recent research reports. Needham & Company LLC decreased 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 lowered their price objective on Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, January 27th. Exane BNP Paribas upgraded Maplebear to a “strong sell” rating in a report on Wednesday, January 14th. Cantor Fitzgerald increased their target price on shares of Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Finally, Fox Advisors downgraded shares of Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Maplebear presently has an average rating of “Hold” and a consensus target price of $51.62.

Insider Activity at Maplebear

In other news, General Counsel Morgan Fong sold 4,914 shares of the company’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 transaction, the general counsel directly owned 404,940 shares of the company’s stock, valued at $18,307,337.40. This represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.00% of the stock is currently owned by corporate insiders.

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.