Ibotta (NYSE:IBTA) Director Sells $335,200.00 in Stock

Ibotta, Inc. (NYSE:IBTA) Director Thomas Lehrman sold 10,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $33.52, for a total transaction of $335,200.00. Following the transaction, the director directly owned 106,275 shares in the company, valued at approximately $3,562,338. This represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Ibotta Price Performance

NYSE:IBTA traded down $0.39 during trading hours on Wednesday, reaching $32.33. 224,805 shares of the company were exchanged, compared to its average volume of 290,643. The firm has a market cap of $653.07 million, a price-to-earnings ratio of -95.09 and a beta of -0.61. Ibotta, Inc. has a 52-week low of $19.10 and a 52-week high of $62.74. The stock has a 50 day simple moving average of $30.58 and a 200 day simple moving average of $26.28.

Ibotta (NYSE:IBTA) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.24 earnings per share 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 for the quarter. During the same period in the prior year, the business earned $0.02 EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts predict that Ibotta, Inc. will post -0.62 EPS for the current fiscal year.

Ibotta announced that its board has initiated a stock repurchase program on Wednesday, March 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 21.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Ibotta

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Ibotta by 17.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock worth $43,749,000 after buying an additional 232,027 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Ibotta by 15.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,281,219 shares of the company’s stock worth $35,682,000 after buying an additional 168,054 shares during the period. Amova Asset Management Americas Inc. increased its stake in Ibotta by 15.6% during the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,279,652 shares of the company’s stock worth $35,600,000 after buying an additional 172,314 shares during the period. Hsbc Holdings PLC increased its stake in Ibotta by 1.5% during the 1st quarter. Hsbc Holdings PLC now owns 1,009,287 shares of the company’s stock worth $30,581,000 after buying an additional 15,310 shares during the period. Finally, ARK Investment Management LLC increased its stake in Ibotta by 39.3% during the 3rd quarter. ARK Investment Management LLC now owns 907,386 shares of the company’s stock worth $25,271,000 after buying an additional 255,899 shares during the period.

Wall Street Analysts Forecast Growth

IBTA has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a research report on Friday, March 27th. Evercore set a $40.00 price objective on shares of Ibotta in a research report on Thursday, May 7th. Zacks Research lowered shares of Ibotta from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Wall Street Zen raised shares of Ibotta from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Wells Fargo & Company increased their price objective on shares of Ibotta from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $36.57.

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.