Ibotta (NYSE:IBTA) Shares Gap Down – Here’s Why

Ibotta, Inc. (NYSE:IBTA) gapped down prior to trading on Wednesday . The stock had previously closed at $37.27, but opened at $36.23. Ibotta shares last traded at $37.29, with a volume of 38,288 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a report on Wednesday, June 24th. Evercore set a $42.00 target price on shares of Ibotta in a research note on Tuesday, August 4th. The Goldman Sachs Group boosted their target price on shares of Ibotta from $28.00 to $32.00 and gave the stock a “sell” rating in a research report on Tuesday, August 4th. Wall Street Zen raised shares of Ibotta from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research upgraded shares of Ibotta from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $36.50.

Ibotta Price Performance

The firm has a market capitalization of $751.24 million, a price-to-earnings ratio of -79.13 and a beta of -0.25. The business has a fifty day moving average price of $33.52 and a two-hundred day moving average price of $31.39.

Insider Buying and Selling

In other Ibotta news, major shareholder Jermoluk Founders Fund I. Clark sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $30.15, for a total transaction of $15,075,000.00. Following the completion of the transaction, the insider directly owned 3,341,308 shares of the company’s stock, valued at approximately $100,740,436.20. This trade represents a 13.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Luke Swanson sold 5,940 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $24.47, for a total transaction of $145,351.80. Following the completion of the sale, the chief technology officer directly owned 483,964 shares in the company, valued at $11,842,599.08. This trade represents a 1.21% decrease in their ownership of the stock. 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 quarter, insiders have sold 595,968 shares of company stock worth $18,514,451. 20.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ibotta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG lifted its holdings in shares of Ibotta by 3,449.8% in the 4th quarter. Deutsche Bank AG now owns 369,890 shares of the company’s stock valued at $8,408,000 after buying an additional 359,470 shares during the period. California State Teachers Retirement System raised its position in Ibotta by 6,672.2% during the second quarter. California State Teachers Retirement System now owns 351,882 shares of the company’s stock valued at $12,020,000 after acquiring an additional 346,686 shares in the last quarter. Vanguard Group Inc. raised its position in Ibotta by 17.3% during the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock valued at $43,749,000 after acquiring an additional 232,027 shares in the last quarter. Marshall Wace LLP acquired a new position in Ibotta in the second quarter valued at approximately $8,397,000. Finally, Hsbc Holdings PLC boosted its position in Ibotta by 29.4% in the 4th quarter. Hsbc Holdings PLC now owns 993,977 shares of the company’s stock worth $22,210,000 after purchasing an additional 226,021 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.