SoFi CEO enters prepaid forward contract on 1.5 million shares
SAN FRANCISCO—Fong Morgan, the General Counsel and Secretary of Maplebear Inc. (NASDAQ:CART), recently sold 5,249 shares of the company’s common stock. The shares were sold at a weighted average price of $39.52, resulting in a total transaction value of $207,438. The transaction comes as the $10.29 billion market cap company maintains impressive gross profit margins of 75.25% and demonstrates strong financial health, according to InvestingPro analysis.
This transaction was executed on March 20, 2025, as part of a pre-arranged trading plan under Rule 10b5-1, established in November 2024. Following the sale, Morgan retains ownership of 204,916 shares in the company. InvestingPro data shows the stock is currently trading near its Fair Value, with 8 additional exclusive insights available to subscribers.
The shares were sold at prices ranging between $39.27 and $39.75 per share. Morgan’s sale is part of a broader strategy to manage personal financial planning while adhering to regulatory compliance. The company maintains a healthy current ratio of 3.38, indicating strong liquidity position.
In other recent news, Instacart has made significant strides with the introduction of AI tools designed to optimize ad campaign performance for brands. These tools, which include AI-generated landing pages and Universal Campaigns, aim to streamline campaign management and improve efficiency. Early tests have shown positive outcomes, with companies like Rescue Dog Wines and Celsius reporting increased sales and return on ad spend. Additionally, Instacart has partnered with Adonis to streamline the billing process for health plans, enhancing access to nutritious food through Instacart Health’s nutrition programs.
In another development, Instacart launched its Smart Shop feature, utilizing generative AI and machine learning to personalize the grocery shopping experience. This new feature includes Health Tags and Inspiration Pages, providing nutritional information and expert-backed health recommendations. Meanwhile, Loop Capital Markets has adjusted its outlook on Instacart, reducing the price target to $52 but maintaining a Buy rating, citing concerns over EBITDA guidance. Cantor Fitzgerald also maintains a positive stance on Instacart with an Overweight rating and a $55 price target, highlighting the company’s strategies for managing unit economics and achieving margin expansion in the coming years. These recent developments reflect Instacart’s ongoing efforts to innovate and expand its services across various sectors.
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