Ibotta, Inc. $IBTA Stake Lessened by Notable Capital Management L.L.C.

Notable Capital Management L.L.C. reduced its stake in Ibotta, Inc. (NYSE:IBTA) by 55.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 149,760 shares of the company’s stock after selling 186,282 shares during the period. Ibotta comprises 11.9% of Notable Capital Management L.L.C.’s holdings, making the stock its 3rd largest position. Notable Capital Management L.L.C.’s holdings in Ibotta were worth $5,901,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IBTA. Bank of America Corp DE boosted its position in Ibotta by 17.8% during the 1st quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock valued at $7,168,000 after acquiring an additional 36,223 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Ibotta by 17.7% in the 1st quarter. Renaissance Technologies LLC now owns 239,300 shares of the company’s stock worth $7,172,000 after acquiring an additional 35,992 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Ibotta by 1.5% in the 1st quarter. Hsbc Holdings PLC now owns 1,009,287 shares of the company’s stock worth $30,581,000 after acquiring an additional 15,310 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Ibotta in the 1st quarter valued at approximately $344,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Ibotta in the 2nd quarter valued at approximately $328,000.

Ibotta Stock Up 0.8%

Shares of IBTA opened at $58.34 on Friday. The stock has a market cap of $1.19 billion, a P/E ratio of -87.07 and a beta of -0.46. The business’s 50 day moving average price is $44.25 and its 200-day moving average price is $33.59. Ibotta, Inc. has a 52 week low of $19.10 and a 52 week high of $66.39.

Ibotta (NYSE:IBTA) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.49. The company had revenue of $97.83 million during the quarter. Ibotta had a negative return on equity of 5.51% and a negative net margin of 4.49%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the business earned $0.56 EPS. On average, equities analysts anticipate that Ibotta, Inc. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IBTA. Evercore set a $58.00 price target on Ibotta in a research note on Tuesday. Wells Fargo & Company raised their price objective on Ibotta from $40.00 to $49.00 and gave the company an “equal weight” rating in a research report on Tuesday. The Goldman Sachs Group raised shares of Ibotta from a “sell” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $58.00 in a research report on Tuesday, November 3rd. Citigroup increased their price target on shares of Ibotta from $34.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Needham & Company LLC lifted their price target on shares of Ibotta from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ibotta currently has a consensus rating of “Reduce” and an average target price of $50.00.

Insiders Place Their Bets

In other news, CTO Luke Swanson sold 3,094 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $59.90, for a total transaction of $185,330.60. Following the completion of the transaction, the chief technology officer directly owned 418,008 shares in the company, valued at $25,038,679.20. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Marisa Daspit sold 720 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $50.01, for a total value of $36,007.20. Following the transaction, the insider owned 115,539 shares of the company’s stock, valued at $5,778,105.39. The trade was a 0.62% 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. Over the last three months, insiders sold 189,520 shares of company stock worth $8,493,101. Insiders own 20.92% of the company’s stock.

Ibotta Company Profile

Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Through its Ibotta app and website, consumers can earn cash back and other rewards by purchasing eligible products from participating retailers. The company’s offerings are designed to help brands and retailers deliver targeted promotions, measure consumer engagement and encourage purchases.

Ibotta also provides its technology to retailers, publishers and other business partners through the Ibotta Performance Network.