Ibotta (NYSE:IBTA) Director Sells $927,062.82 in Stock

by · The Cerbat Gem

Ibotta, Inc. (NYSE:IBTA – Get Free Report) Director Thomas Lehrman sold 30,119 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $30.78, for a total value of $927,062.82. Following the completion of the transaction, the director directly owned 40,744 shares in the company, valued at approximately $1,254,100.32. This represents a 42.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Ibotta Stock Performance

Ibotta stock traded up $1.02 on Tuesday, reaching $33.02. The company’s stock had a trading volume of 202,989 shares, compared to its average volume of 288,459. The company has a market cap of $667.00 million, a price-to-earnings ratio of -97.12 and a beta of -0.61. The business’s fifty day moving average price is $31.11 and its 200 day moving average price is $26.19. Ibotta, Inc. has a twelve month low of $19.10 and a twelve month high of $55.63.

Ibotta (NYSE:IBTA – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.45. The company 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%.Ibotta’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS. As a group, equities analysts forecast that Ibotta, Inc. will post -0.62 earnings per share for the current year.

Ibotta declared that its board has approved a share repurchase program on Wednesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 21.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have commented on IBTA. Zacks Research lowered Ibotta from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Evercore set a $40.00 target price on Ibotta in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research report on Friday, March 27th. Needham & Company LLC boosted their target price on Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company boosted their target price on Ibotta from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Ibotta currently has a consensus rating of “Reduce” and an average price target of $33.00.

View Our Latest Report on IBTA

Institutional Investors Weigh In On Ibotta

A number of institutional investors and hedge funds have recently made changes to their positions in IBTA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ibotta by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock worth $396,000 after acquiring an additional 515 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in Ibotta in the first quarter valued at about $161,000. Goldman Sachs Group Inc. increased its holdings in Ibotta by 16.6% in the first quarter. Goldman Sachs Group Inc. now owns 122,514 shares of the company’s stock valued at $5,170,000 after purchasing an additional 17,421 shares during the last quarter. Legal & General Group Plc increased its holdings in Ibotta by 43.5% in the second quarter. Legal & General Group Plc now owns 12,349 shares of the company’s stock valued at $452,000 after purchasing an additional 3,746 shares during the last quarter. Finally, Norges Bank bought a new stake in Ibotta in the second quarter valued at about $781,000.

About Ibotta

(Get Free Report)

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.

See Also