Ibotta, Inc. $IBTA Shares Sold by Notable Capital Management L.L.C.

Notable Capital Management L.L.C. lowered its position in Ibotta, Inc. (NYSE:IBTA) by 55.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,760 shares of the company’s stock after selling 186,282 shares during the quarter. Ibotta makes up approximately 11.9% of Notable Capital Management L.L.C.’s portfolio, making the stock its 3rd biggest position. Notable Capital Management L.L.C. owned about 0.74% of Ibotta worth $5,901,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its holdings in shares of Ibotta by 32.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 1,083 shares of the company’s stock worth $42,000 after acquiring an additional 268 shares during the last quarter. Essential Partners LLC raised its position in Ibotta by 40,800.0% in the 1st quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after purchasing an additional 816 shares during the period. Meeder Asset Management Inc. purchased a new position in Ibotta in the 1st quarter worth $39,000. New York State Teachers Retirement System purchased a new stake in Ibotta during the first quarter valued at about $39,000. Finally, Squarepoint Ops LLC purchased a new stake in Ibotta during the second quarter valued at about $290,000.

Ibotta Trading Up 0.8%

IBTA stock opened at $58.34 on Friday. The firm’s 50-day moving average price is $44.25 and its two-hundred day moving average price is $33.59. Ibotta, Inc. has a 12-month low of $19.10 and a 12-month high of $66.39. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -87.07 and a beta of -0.46.

Ibotta (NYSE:IBTA) last posted its earnings results on Monday, November 2nd. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.49. The company had revenue of $97.83 million during the quarter. Ibotta had a negative net margin of 4.49% and a negative return on equity of 5.51%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.56 earnings per share. Equities analysts predict that Ibotta, Inc. will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

IBTA has been the topic of several analyst reports. Weiss Ratings upgraded Ibotta from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. Wells Fargo & Company boosted their target price on Ibotta from $40.00 to $49.00 and gave the company an “equal weight” rating in a research note on Tuesday. UBS Group increased their target price on Ibotta from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Citigroup raised their price target on Ibotta from $34.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Needham & Company LLC lifted their price target on Ibotta from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $50.00.

Insider Transactions at Ibotta

In other news, Director Thomas D. Lehrman sold 19,561 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $36.22, for a total transaction of $708,499.42. Following the transaction, the director directly owned 25,312 shares of the company’s stock, valued at approximately $916,800.64. The trade was a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Luke Swanson sold 30,206 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $62.20, for a total value of $1,878,813.20. Following the transaction, the chief technology officer owned 186,146 shares of the company’s stock, valued at approximately $11,578,281.20. This represents a 13.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 189,520 shares of company stock worth $8,493,101. 20.92% of the stock is owned by company insiders.

About Ibotta

Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Through its Ibotta app and website, consumers can earn cash back and other rewards by purchasing eligible products from participating retailers. The company’s offerings are designed to help brands and retailers deliver targeted promotions, measure consumer engagement and encourage purchases.

Ibotta also provides its technology to retailers, publishers and other business partners through the Ibotta Performance Network.