Thomas Lehrman Sells 19,788 Shares of Ibotta (NYSE:IBTA) Stock

Ibotta, Inc. (NYSE:IBTA) Director Thomas Lehrman sold 19,788 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $32.11, for a total transaction of $635,392.68. Following the sale, the director owned 32,981 shares of the company’s stock, valued at approximately $1,059,019.91. This represents a 37.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Ibotta Stock Up 3.2%

IBTA traded up $1.02 during mid-day trading on Tuesday, reaching $33.02. 202,989 shares of the company traded hands, compared to its average volume of 288,459. The stock has a market capitalization of $667.00 million, a P/E ratio of -97.12 and a beta of -0.61. The company’s fifty day moving average price is $31.11 and its 200-day moving average price is $26.19. Ibotta, Inc. has a 52-week low of $19.10 and a 52-week high of $55.63.

Ibotta (NYSE:IBTA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $82.48 million during the quarter. During the same period in the previous year, the firm earned $0.02 EPS. The company’s revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that Ibotta, Inc. will post -0.62 earnings per share for the current fiscal year.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 232,027 shares during the last quarter. Amova Asset Management Americas Inc. boosted its holdings in shares of Ibotta by 15.6% during the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,279,652 shares of the company’s stock valued at $35,600,000 after purchasing an additional 172,314 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Ibotta by 1.5% during the 1st quarter. Hsbc Holdings PLC now owns 1,009,287 shares of the company’s stock valued at $30,581,000 after purchasing an additional 15,310 shares during the last quarter. ARK Investment Management LLC boosted its holdings in shares of Ibotta by 39.3% during the 3rd quarter. ARK Investment Management LLC now owns 907,386 shares of the company’s stock valued at $25,271,000 after purchasing an additional 255,899 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Ibotta by 90.2% during the 3rd quarter. Citigroup Inc. now owns 641,337 shares of the company’s stock valued at $17,861,000 after purchasing an additional 304,183 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IBTA. Zacks Research downgraded shares of Ibotta from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Evercore set a $40.00 target price on shares of Ibotta in a report on Thursday, May 7th. Wells Fargo & Company upped their target price 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. Wall Street Zen raised shares of Ibotta from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a report on Friday, March 27th. One 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $33.00.

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.