Ibotta, Inc. $IBTA Stock Position Lifted by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in Ibotta, Inc. (NYSE:IBTA) by 29.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 993,977 shares of the company’s stock after acquiring an additional 226,021 shares during the quarter. Hsbc Holdings PLC’s holdings in Ibotta were worth $22,210,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Ibotta by 17.3% in the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock worth $43,749,000 after purchasing an additional 232,027 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Ibotta by 23.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 407,936 shares of the company’s stock worth $11,361,000 after buying an additional 76,835 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Ibotta by 3,449.8% in the 4th quarter. Deutsche Bank AG now owns 369,890 shares of the company’s stock worth $8,408,000 after buying an additional 359,470 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ibotta by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 327,479 shares of the company’s stock valued at $7,445,000 after buying an additional 3,000 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Ibotta by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 322,567 shares of the company’s stock worth $11,806,000 after acquiring an additional 5,514 shares during the period.

Insider Transactions at Ibotta

In other news, Director Thomas D. Lehrman sold 30,119 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $30.78, for a total value of $927,062.82. Following the completion of the sale, the director directly owned 40,744 shares of the company’s stock, valued at approximately $1,254,100.32. This represents a 42.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Luke Roy Swanson sold 5,940 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $35.14, for a total transaction of $208,731.60. Following the completion of the transaction, the chief technology officer owned 489,904 shares of the company’s stock, valued at $17,215,226.56. This trade represents a 1.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 113,641 shares of company stock valued at $3,627,987 in the last quarter. 20.92% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

IBTA has been the topic of a number of recent research reports. Wells Fargo & Company raised 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. Needham & Company LLC increased their price target on Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Zacks Research upgraded Ibotta from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Evercore set a $40.00 target price on Ibotta in a research report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $33.00.

Ibotta Price Performance

IBTA opened at $33.37 on Wednesday. The stock’s 50 day moving average price is $33.22 and its 200 day moving average price is $28.04. The stock has a market cap of $674.07 million, a P/E ratio of -98.15 and a beta of -0.59. Ibotta, Inc. has a 12 month low of $19.10 and a 12 month high of $41.14.

Ibotta (NYSE:IBTA) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the company posted $0.02 EPS. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts anticipate that Ibotta, Inc. will post 0.24 EPS for the current year.

Ibotta declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 21.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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.