Ibotta (NYSE:IBTA) Insider Marisa Daspit Sells 2,956 Shares of Stock

Ibotta, Inc. (NYSE:IBTA) insider Marisa Daspit sold 2,956 shares of Ibotta stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $24.06, for a total value of $71,121.36. Following the transaction, the insider owned 127,597 shares of the company’s stock, valued at $3,069,983.82. The trade was a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Ibotta Stock Up 0.3%

Shares of IBTA stock opened at $23.48 on Tuesday. Ibotta, Inc. has a 52-week low of $19.10 and a 52-week high of $62.74. The stock has a market cap of $498.01 million, a PE ratio of 213.47 and a beta of -1.22. The business has a 50-day simple moving average of $22.25 and a 200-day simple moving average of $25.27.

Ibotta (NYSE:IBTA) last posted its earnings results on Wednesday, February 25th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). The company had revenue of $88.53 million for the quarter. Ibotta had a return on equity of 1.04% and a net margin of 1.04%.The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 earnings per share.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Ibotta by 17.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock valued at $43,749,000 after buying an additional 232,027 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Ibotta by 15.1% in the 3rd 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. Amova Asset Management Americas Inc. raised its position 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. Nikko Asset Management Americas Inc. lifted its holdings in Ibotta by 5.1% during the second quarter. Nikko Asset Management Americas Inc. now owns 1,107,338 shares of the company’s stock valued at $40,529,000 after purchasing an additional 53,820 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Ibotta by 29.4% during the fourth quarter. Hsbc Holdings PLC now owns 993,977 shares of the company’s stock valued at $22,210,000 after purchasing an additional 226,021 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IBTA. Bank of America cut their target price on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating for the company in a report on Thursday, November 13th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a report on Monday, December 29th. Evercore dropped their price target on shares of Ibotta from $38.00 to $32.00 and set an “in-line” rating on the stock in a research report on Thursday, November 13th. Wells Fargo & Company upped their price objective on shares of Ibotta from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 26th. Finally, The Goldman Sachs Group lowered their target price on shares of Ibotta from $26.00 to $23.00 and set a “sell” rating on the stock in a research note on Thursday, November 13th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Ibotta has a consensus rating of “Reduce” and an average target price of $33.14.

Ibotta Company Profile

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.