Thomas Lehrman Sells 10,992 Shares of Ibotta (NYSE:IBTA) Stock

Ibotta, Inc. (NYSE:IBTA) Director Thomas Lehrman sold 10,992 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $32.91, for a total transaction of $361,746.72. Following the sale, the director owned 60,289 shares of the company’s stock, valued at $1,984,110.99. This represents a 15.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ibotta Stock Performance

Shares of NYSE IBTA traded down $0.39 during midday trading on Wednesday, reaching $32.33. 224,805 shares of the stock were exchanged, compared to its average volume of 290,643. The company has a 50 day simple moving average of $30.58 and a 200 day simple moving average of $26.28. The stock has a market capitalization of $653.07 million, a P/E ratio of -95.09 and a beta of -0.61. Ibotta, Inc. has a twelve month low of $19.10 and a twelve month high of $62.74.

Ibotta (NYSE:IBTA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.45. The business had revenue of $82.48 million during the quarter. Ibotta had a negative net margin of 2.15% and a negative return on equity of 2.39%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.02 EPS. On average, research analysts expect that Ibotta, Inc. will post -0.62 earnings per share for the current year.

Ibotta announced that its Board of Directors has initiated a share buyback program on Wednesday, March 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 21.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

IBTA has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Ibotta from $34.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Zacks Research downgraded shares of Ibotta from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Needham & Company LLC raised their price target on shares of Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Evercore set a $40.00 target price on shares of Ibotta in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $36.57.

Hedge Funds Weigh In On Ibotta

Institutional investors have recently modified their holdings of the business. Citigroup Inc. grew its stake in shares of Ibotta by 90.2% in 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Ibotta by 15.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,281,219 shares of the company’s stock worth $35,682,000 after acquiring an additional 168,054 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Ibotta by 39.3% in 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 in the last quarter. Amova Asset Management Americas Inc. grew its stake in shares of Ibotta by 15.6% in 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 in the last quarter. Finally, Primecap Management Co. CA grew its stake in shares of Ibotta by 25.2% in 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 in the last quarter.

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.