Incline Global Exits Entire Position in Maplebear
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 09 2026
0mins
Should l Buy CART?
Source: NASDAQ.COM
- Complete Exit: Incline Global Management LLC sold 422,576 shares of Maplebear in Q4 2025 for an estimated $15.53 million, marking a complete exit from a position that previously represented 4.6% of its assets, indicating a bearish outlook on the company.
- Impact on AUM: This transaction accounted for 5.31% of Incline Global's 13F reportable assets under management, reflecting a lack of confidence in Maplebear's future performance, which could affect the overall stability of the fund's investment portfolio.
- Poor Market Performance: As of February 2026, Maplebear's stock price was $36.72, down 27.1% year-over-year, significantly underperforming the S&P 500 by 39.9 percentage points, highlighting challenges in the competitive online grocery market.
- Instacart Outlook: Despite Instacart achieving $3.7 billion in revenue for 2025, an 11% year-over-year increase, the forecast for Q1 2026 adjusted EBITDA of $280 million to $290 million raises concerns about slowing growth compared to a 23% increase in Q1 2025, intensifying market worries.
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Analyst Views on CART
Wall Street analysts forecast CART stock price to rise
25 Analyst Rating
14 Buy
9 Hold
2 Sell
Moderate Buy
Current: 35.720
Low
36.00
Averages
50.83
High
66.00
Current: 35.720
Low
36.00
Averages
50.83
High
66.00
About CART
Maplebear Inc., doing business as Instacart, is a grocery technology company in North America, works with grocers and retailers to transform how people shop. The Company partners with more than 1,800 national, regional, and local retail banners to facilitate online shopping, delivery and pickup services from more than 100,000 stores across North America on the Instacart Marketplace. The Instacart Platform offers retailers a suite of enterprise-grade technology products and services to power their e-commerce experiences, fulfill orders, digitize brick-and-mortar stores, provide advertising services, and glean insights. With Instacart Ads, thousands of consumer-packaged goods (CPG) brands - from category leaders to emerging brands - partner with the Company to connect directly with consumers online, right at the point of purchase. The Company, through its Instacart Health, provides tools to increase nutrition security and make healthy choices easier for consumers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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