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

Ibotta, Inc. (NYSE:IBTA) Director Thomas Lehrman sold 19,788 shares of Ibotta stock in a transaction that occurred 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 transaction, the director directly owned 32,981 shares in the company, valued at approximately $1,059,019.91. The trade was a 37.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Ibotta Stock Down 0.5%

Ibotta stock opened at $33.23 on Thursday. The firm has a market cap of $671.18 million, a P/E ratio of -97.74 and a beta of -0.61. The business has a fifty day moving average of $31.50 and a two-hundred day moving average of $26.19. Ibotta, Inc. has a twelve month low of $19.10 and a twelve month high of $55.63.

Ibotta (NYSE:IBTA) last announced its quarterly earnings results 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. 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%.The company’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.02 earnings per share. Equities analysts expect that Ibotta, Inc. will post 0.24 earnings per share for the current year.

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

Analysts Set New Price Targets

IBTA has been the subject of several analyst reports. Zacks Research lowered shares of Ibotta from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Wells Fargo & Company boosted their price objective on shares of Ibotta from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Needham & Company LLC increased their target price on shares of Ibotta from $33.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Evercore set a $40.00 price target on shares of Ibotta in a report on Thursday, May 7th. Finally, Wall Street Zen raised Ibotta from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $33.00.

Hedge Funds Weigh In On Ibotta

Several hedge funds have recently modified their holdings of the stock. Citigroup Inc. grew its holdings in shares of Ibotta by 90.2% during the third quarter. Citigroup Inc. now owns 641,337 shares of the company’s stock valued at $17,861,000 after buying an additional 304,183 shares during the last quarter. ARK Investment Management LLC raised its stake in Ibotta by 39.3% in the 3rd quarter. ARK Investment Management LLC now owns 907,386 shares of the company’s stock worth $25,271,000 after acquiring an additional 255,899 shares during the last quarter. Amova Asset Management Americas Inc. lifted its position 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 acquiring an additional 172,314 shares during the period. Primecap Management Co. CA lifted its position in Ibotta by 25.2% during the 3rd quarter. Primecap Management Co. CA now owns 150,165 shares of the company’s stock worth $4,182,000 after acquiring an additional 30,190 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in Ibotta during the 3rd quarter valued at about $924,000.

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.