Ibotta (NYSE:IBTA) Director Sells $294,196.32 in Stock

Ibotta, Inc. (NYSE:IBTA) Director Thomas Lehrman sold 8,154 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $36.08, for a total value of $294,196.32. Following the sale, the director owned 22,115 shares of the company’s stock, valued at $797,909.20. The trade was a 26.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Ibotta Trading Up 6.3%

NYSE IBTA traded up $2.26 on Thursday, reaching $38.11. The stock had a trading volume of 326,340 shares, compared to its average volume of 263,992. The business has a 50 day moving average price of $31.65 and a 200 day moving average price of $29.55. Ibotta, Inc. has a 1 year low of $19.10 and a 1 year high of $40.49. The company has a market capitalization of $769.82 million, a price-to-earnings ratio of -81.08 and a beta of -0.44.

Wall Street Analyst Weigh In

A number of analysts have commented on IBTA shares. Evercore set a $42.00 price objective on Ibotta in a research report on Tuesday, August 4th. Wall Street Zen raised Ibotta from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Ibotta in a research report on Tuesday, August 4th. Wells Fargo & Company boosted their target price on Ibotta from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group boosted their price target on shares of Ibotta from $28.00 to $32.00 and gave the stock a “sell” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $36.50.

Institutional Trading of Ibotta

A number of large investors have recently added to or reduced their stakes in the company. Essential Partners LLC boosted its stake in shares of Ibotta by 40,800.0% during the 1st quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after acquiring an additional 816 shares during the period. Meeder Asset Management Inc. acquired a new position in Ibotta during the first quarter valued at approximately $39,000. New York State Teachers Retirement System bought a new stake in shares of Ibotta during the 1st quarter valued at approximately $39,000. Caitong International Asset Management Co. Ltd raised its position in Ibotta by 187.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock valued at $41,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Ibotta by 47,920.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock worth $55,000 after buying an additional 2,396 shares during the period.

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.