Ibotta (NYSE:IBTA) Director Thomas Lehrman Sells 10,000 Shares of Stock

Ibotta, Inc. (NYSE:IBTA) Director Thomas Lehrman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $33.52, for a total transaction of $335,200.00. Following the completion of the transaction, the director directly owned 106,275 shares of the company’s stock, valued at approximately $3,562,338. This represents a 8.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ibotta Stock Performance

Shares of IBTA opened at $32.33 on Thursday. The company has a market capitalization of $653.07 million, a price-to-earnings ratio of -95.09 and a beta of -0.61. Ibotta, Inc. has a 1 year low of $19.10 and a 1 year high of $62.74. The company’s 50 day simple moving average is $30.73 and its 200 day simple moving average is $26.27.

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

Ibotta announced that its Board of Directors has approved a share buyback plan on Wednesday, March 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 21.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have issued reports on IBTA. Zacks Research lowered Ibotta from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a report on Friday, March 27th. Needham & Company LLC boosted their target price on shares of Ibotta from $33.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Evercore set a $40.00 price target on shares of Ibotta in a report on Thursday, May 7th. Finally, Wells Fargo & Company upped their price objective on Ibotta from $34.00 to $38.00 and gave the stock 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $36.57.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IBTA. New York State Teachers Retirement System acquired a new position in Ibotta during the first quarter valued at approximately $39,000. Meeder Asset Management Inc. acquired a new position in shares of Ibotta during the first quarter worth about $39,000. CWM LLC boosted its stake in shares of Ibotta by 50.8% in the third quarter. CWM LLC now owns 1,422 shares of the company’s stock valued at $40,000 after purchasing an additional 479 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Ibotta by 187.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock valued at $41,000 after purchasing an additional 1,185 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Ibotta by 47,920.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock valued at $55,000 after purchasing an additional 2,396 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.