Ibotta (NYSE:IBTA) Director Thomas Lehrman Sells 19,788 Shares of Stock

Ibotta, Inc. (NYSE:IBTA) Director Thomas Lehrman sold 19,788 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $32.11, for a total value of $635,392.68. Following the completion of the sale, the director owned 32,981 shares of the company’s stock, valued at approximately $1,059,019.91. This represents a 37.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ibotta Trading Up 3.2%

Shares of NYSE IBTA opened at $33.02 on Wednesday. Ibotta, Inc. has a twelve month low of $19.10 and a twelve month high of $55.63. The stock has a 50 day moving average of $31.30 and a two-hundred day moving average of $26.18. The stock has a market cap of $667.00 million, a P/E ratio of -97.12 and a beta of -0.61.

Ibotta (NYSE:IBTA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.45. The company had revenue of $82.48 million during the quarter. Ibotta had a negative return on equity of 2.39% and a negative net margin of 2.15%.Ibotta’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.02 EPS. As a group, research analysts predict that Ibotta, Inc. will post -0.29 earnings per share for the current year.

Ibotta declared that its board has initiated a share buyback plan on Wednesday, March 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 21.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Citigroup Inc. grew its holdings in Ibotta by 90.2% during the third quarter. Citigroup Inc. now owns 641,337 shares of the company’s stock worth $17,861,000 after acquiring an additional 304,183 shares during the period. ARK Investment Management LLC grew its holdings in Ibotta by 39.3% during the third quarter. ARK Investment Management LLC now owns 907,386 shares of the company’s stock worth $25,271,000 after acquiring an additional 255,899 shares during the period. Amova Asset Management Americas Inc. grew its holdings in Ibotta by 15.6% during the third quarter. Amova Asset Management Americas Inc. now owns 1,279,652 shares of the company’s stock worth $35,600,000 after acquiring an additional 172,314 shares during the period. Primecap Management Co. CA grew its holdings in Ibotta by 25.2% during the third quarter. Primecap Management Co. CA now owns 150,165 shares of the company’s stock worth $4,182,000 after acquiring an additional 30,190 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in Ibotta during the third quarter worth $924,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a report on Friday, March 27th. Evercore set a $40.00 target price on Ibotta in a report on Thursday, May 7th. Zacks Research lowered Ibotta from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Needham & Company LLC boosted their target price on Ibotta from $33.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company boosted their target price on Ibotta from $34.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $33.00.

About Ibotta

Ibotta (NYSE: IBTA) is a Denver‐based mobile commerce platform that connects consumers, retailers and brands through a unified cash-back rewards experience. Users access the Ibotta mobile app or browser extension to unlock rebates on everyday purchases, redeemable on groceries, retail goods, travel bookings and digital services. The platform integrates with major supermarket chains, big‐box retailers and online merchants, enabling shoppers to earn automatic cash-back both in physical stores and across e-commerce channels.

Founded in 2012 by co‐founder and CEO Bryan Leach, Ibotta has evolved from a simple rebate app into a comprehensive performance marketing partner for consumer goods companies.