FourThought Financial Partners LLC Buys New Position in Ibotta, Inc. $IBTA

FourThought Financial Partners LLC bought a new stake in Ibotta, Inc. (NYSE:IBTA) during the fourth quarter, Holdings Channel.com reports. The fund bought 23,134 shares of the company’s stock, valued at approximately $526,000.

A number of other large investors also recently modified their holdings of the company. Rhumbline Advisers raised its holdings in shares of Ibotta by 2.0% during the 3rd quarter. Rhumbline Advisers now owns 19,256 shares of the company’s stock valued at $536,000 after buying an additional 380 shares in the last quarter. CWM LLC raised its holdings in shares of Ibotta by 50.8% during the 3rd quarter. CWM LLC now owns 1,422 shares of the company’s stock valued at $40,000 after buying an additional 479 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ibotta by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock valued at $396,000 after buying an additional 515 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Ibotta by 34.6% during the 3rd quarter. Quantbot Technologies LP now owns 2,420 shares of the company’s stock valued at $67,000 after buying an additional 622 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Ibotta by 9.0% during the 3rd quarter. Legal & General Group Plc now owns 13,461 shares of the company’s stock valued at $375,000 after buying an additional 1,112 shares in the last quarter.

Wall Street Analysts Forecast Growth

IBTA has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a report on Friday, March 27th. Wall Street Zen raised Ibotta from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research cut Ibotta from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Needham & Company LLC raised their price objective on Ibotta from $33.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, 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 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ibotta currently has a consensus rating of “Reduce” and a consensus target price of $33.00.

Insider Buying and Selling

In other news, Director Thomas D. Lehrman sold 19,788 shares of Ibotta stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $32.11, for a total value of $635,392.68. Following the sale, the director directly owned 32,981 shares in the company, valued at approximately $1,059,019.91. This trade represents a 37.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marisa Daspit sold 2,956 shares of Ibotta stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $24.06, for a total value of $71,121.36. Following the completion of the sale, the insider owned 127,597 shares in the company, valued at approximately $3,069,983.82. This represents a 2.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 104,717 shares of company stock worth $3,294,475. Corporate insiders own 20.92% of the company’s stock.

Ibotta Price Performance

Shares of Ibotta stock opened at $32.09 on Friday. The business’s 50 day simple moving average is $31.70 and its two-hundred day simple moving average is $26.19. The stock has a market capitalization of $648.22 million, a P/E ratio of -94.38 and a beta of -0.61. Ibotta, Inc. has a one year low of $19.10 and a one year high of $54.30.

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

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

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.