Sumitomo Mitsui Trust Group Inc. Has $40.74 Million Holdings in Ibotta, Inc. $IBTA

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Ibotta, Inc. (NYSE:IBTA) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,113,165 shares of the company’s stock after purchasing an additional 69,407 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 4.40% of Ibotta worth $40,742,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. ARK Investment Management LLC lifted its stake in shares of Ibotta by 299.8% in the 1st quarter. ARK Investment Management LLC now owns 704,308 shares of the company’s stock valued at $29,722,000 after purchasing an additional 528,147 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Ibotta by 237.9% in the 1st quarter. XTX Topco Ltd now owns 24,068 shares of the company’s stock valued at $1,016,000 after purchasing an additional 16,945 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Ibotta in the 1st quarter valued at $2,340,000. Hsbc Holdings PLC acquired a new stake in shares of Ibotta in the 1st quarter valued at $1,946,000. Finally, Pacer Advisors Inc. bought a new position in Ibotta in the 1st quarter worth $3,539,000.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JMP Securities reiterated a “market perform” rating on shares of Ibotta in a report on Thursday, August 14th. Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. 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 report on Thursday, August 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a report on Wednesday, October 8th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $30.00 target price (down previously from $60.00) on shares of Ibotta in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Ibotta presently has an average rating of “Reduce” and an average price target of $34.14.

Ibotta Stock Up 0.5%

NYSE IBTA opened at $34.43 on Tuesday. The stock has a market cap of $869.70 million, a P/E ratio of 11.95, a PEG ratio of 27.40 and a beta of -1.19. The company’s 50-day simple moving average is $28.50 and its 200 day simple moving average is $37.67. Ibotta, Inc. has a twelve month low of $22.50 and a twelve month high of $79.80.

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

Ibotta Company Profile

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.