Nikko Asset Management Americas Inc. Buys 53,820 Shares of Ibotta, Inc. $IBTA

Nikko Asset Management Americas Inc. boosted its stake in shares of Ibotta, Inc. (NYSE:IBTA) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,107,338 shares of the company’s stock after acquiring an additional 53,820 shares during the quarter. Nikko Asset Management Americas Inc. owned 4.38% of Ibotta worth $40,529,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IBTA. CWM LLC increased its position in shares of Ibotta by 225.2% during the 2nd quarter. CWM LLC now owns 943 shares of the company’s stock worth $35,000 after purchasing an additional 653 shares in the last quarter. Private Wealth Asset Management LLC bought a new stake in Ibotta during the second quarter worth about $37,000. Quantbot Technologies LP acquired a new stake in shares of Ibotta during the second quarter worth approximately $66,000. Jones Financial Companies Lllp acquired a new stake in shares of Ibotta during the first quarter worth approximately $161,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Ibotta by 144.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,851 shares of the company’s stock valued at $141,000 after acquiring an additional 2,274 shares during the last quarter.

Ibotta Stock Performance

IBTA opened at $21.36 on Friday. The company has a fifty day moving average price of $27.99 and a two-hundred day moving average price of $32.15. The firm has a market capitalization of $500.68 million, a PE ratio of 8.83 and a beta of -0.90. Ibotta, Inc. has a 52 week low of $21.34 and a 52 week high of $76.00.

Ibotta (NYSE:IBTA) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.22. The business had revenue of $83.26 million for the quarter. Ibotta had a return on equity of 20.94% and a net margin of 22.92%.The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share.

Analysts Set New Price Targets

A number of research firms recently commented on IBTA. Wall Street Zen upgraded Ibotta from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. The Goldman Sachs Group decreased their target price on Ibotta from $26.00 to $23.00 and set a “sell” rating on the stock in a report on Thursday, November 13th. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research note on Monday, December 8th. Bank of America reduced their price target on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating on the stock in a research report on Thursday, November 13th. Finally, Evercore ISI lowered their price objective on shares of Ibotta from $38.00 to $32.00 and set an “in-line” rating for the company in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $32.57.

Ibotta Profile

Ibotta’s mission is to Make Every Purchase Rewarding. Our technology allows CPG brands to deliver digital promotions to over 200 million consumers through a single, convenient network called the Ibotta Performance Network (IPN). We are pioneers in success-based marketing: we only get paid when our client’s promotion results in a sale, not when a consumer merely views or clicks on the promotion.