Ibotta (NYSE:IBTA) Director Sells $361,746.72 in Stock

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

Ibotta Price Performance

Ibotta stock opened at $30.72 on Friday. The firm has a 50-day moving average of $30.95 and a 200-day moving average of $26.27. Ibotta, Inc. has a one year low of $19.10 and a one year high of $59.75. The company has a market cap of $620.54 million, a price-to-earnings ratio of -90.35 and a beta of -0.61.

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

Ibotta declared that its board has approved a share buyback program on Wednesday, March 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 21.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

IBTA has been the subject of several recent analyst reports. Zacks Research downgraded shares of Ibotta from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Wall Street Zen upgraded Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wells Fargo & Company raised their price objective on Ibotta from $34.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Needham & Company LLC boosted their target price on Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $33.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in Ibotta by 2.0% in the 3rd quarter. Rhumbline Advisers now owns 19,256 shares of the company’s stock valued at $536,000 after acquiring an additional 380 shares during the period. CWM LLC raised its holdings in Ibotta by 50.8% in the 3rd quarter. CWM LLC now owns 1,422 shares of the company’s stock valued at $40,000 after acquiring an additional 479 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ibotta by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock valued at $396,000 after acquiring an additional 515 shares during the period. Quantbot Technologies LP raised its holdings in Ibotta by 34.6% in the 3rd quarter. Quantbot Technologies LP now owns 2,420 shares of the company’s stock valued at $67,000 after acquiring an additional 622 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Ibotta by 5.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,769 shares of the company’s stock valued at $404,000 after acquiring an additional 855 shares during the period.

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.