Sumitomo Mitsui Trust Group Inc. Has $40.74 Million Holdings in Ibotta, Inc. $IBTA

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Ibotta, Inc. (NYSE:IBTA) by 6.6% during the 2nd quarter, Holdings Channel reports. The fund owned 1,113,165 shares of the company’s stock after acquiring an additional 69,407 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Ibotta were worth $40,742,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. ARK Investment Management LLC boosted its holdings in shares of Ibotta by 299.8% in the 1st quarter. ARK Investment Management LLC now owns 704,308 shares of the company’s stock worth $29,722,000 after acquiring an additional 528,147 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of Ibotta by 237.9% in the 1st quarter. XTX Topco Ltd now owns 24,068 shares of the company’s stock worth $1,016,000 after acquiring an additional 16,945 shares in the last quarter. Nuveen LLC acquired a new position in shares of Ibotta in the 1st quarter worth approximately $2,340,000. Hsbc Holdings PLC acquired a new position in shares of Ibotta during the first quarter worth approximately $1,946,000. Finally, Pacer Advisors Inc. acquired a new position in shares of Ibotta during the first quarter worth approximately $3,539,000.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on IBTA shares. The Goldman Sachs Group lowered shares of Ibotta from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $30.00 to $26.00 in a research report on Tuesday, October 14th. JMP Securities reiterated a “market perform” rating on shares of Ibotta in a research report on Thursday, August 14th. UBS Group reduced their target price on shares of Ibotta from $55.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, August 14th. Wells Fargo & Company restated an “equal weight” rating and issued a $30.00 price objective (down from $60.00) on shares of Ibotta in a report on Thursday, August 14th. Finally, Needham & Company LLC cut their price objective on shares of Ibotta from $70.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $34.14.

Ibotta Stock Up 0.5%

Shares of NYSE:IBTA opened at $34.43 on Tuesday. Ibotta, Inc. has a 12 month low of $22.50 and a 12 month high of $79.80. The company’s fifty day simple moving average is $28.50 and its 200 day simple moving average is $37.67. The firm has a market cap of $869.70 million, a price-to-earnings ratio of 11.95, a PEG ratio of 27.40 and a beta of -1.19.

Ibotta (NYSE:IBTA) last released its earnings results on Thursday, May 30th. The company reported ($0.10) earnings per share for the quarter. The business had revenue of $56.52 million during the quarter. Ibotta had a net margin of 26.24% and a return on equity of 24.26%.

Ibotta Company Profile

Ibotta’s mission is to Make Every Purchase Rewarding. Our technology allows CPG brands to deliver digital promotions to over 200 million consumers through a single, convenient network called the Ibotta Performance Network (IPN). We are pioneers in success-based marketing: we only get paid when our client’s promotion results in a sale, not when a consumer merely views or clicks on the promotion.