Private Wealth Asset Management LLC Makes New $37,000 Investment in Ibotta, Inc. $IBTA

Private Wealth Asset Management LLC purchased a new stake in shares of Ibotta, Inc. (NYSE:IBTA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,000 shares of the company’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Ibotta during the 1st quarter worth about $25,000. CWM LLC lifted its position in shares of Ibotta by 225.2% in the 2nd quarter. CWM LLC now owns 943 shares of the company’s stock worth $35,000 after purchasing an additional 653 shares during the period. GAMMA Investing LLC lifted its position in shares of Ibotta by 2,859.7% in the 1st quarter. GAMMA Investing LLC now owns 1,983 shares of the company’s stock worth $840,000 after purchasing an additional 1,916 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Ibotta during the first quarter valued at approximately $161,000. Finally, New York State Common Retirement Fund raised its stake in Ibotta by 58.1% in the first quarter. New York State Common Retirement Fund now owns 4,900 shares of the company’s stock worth $207,000 after buying an additional 1,800 shares in the last quarter.

Ibotta Stock Down 0.3%

IBTA stock opened at $31.04 on Thursday. The stock has a market capitalization of $784.07 million, a PE ratio of 10.78, a price-to-earnings-growth ratio of 24.90 and a beta of -1.19. Ibotta, Inc. has a 52 week low of $22.50 and a 52 week high of $79.80. The firm has a 50 day moving average of $28.02 and a 200 day moving average of $38.38.

Ibotta (NYSE:IBTA) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($0.10) earnings per share (EPS) for the quarter. Ibotta had a net margin of 26.24% and a return on equity of 24.26%. The company had revenue of $56.52 million for the quarter.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group dropped their target price on Ibotta from $55.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, August 14th. Evercore ISI reiterated an “in-line” rating and issued a $38.00 target price (down previously from $65.00) on shares of Ibotta in a research note on Thursday, August 14th. JMP Securities reissued a “market perform” rating on shares of Ibotta in a research report on Thursday, August 14th. Citigroup downgraded shares of Ibotta from a “buy” rating to a “market perform” rating in a research report on Thursday, August 14th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $34.14.

About Ibotta

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.