Ibotta, Inc. (NYSE:IBTA – Get Free Report) CTO Luke Roy Swanson sold 5,940 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $32.98, for a total transaction of $195,901.20. Following the completion of the sale, the chief technology officer owned 495,844 shares of the company’s stock, valued at approximately $16,352,935.12. This trade represents a 1.18% decrease in their position. The transaction 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.
Ibotta Price Performance
IBTA stock opened at $31.94 on Thursday. The company has a fifty day moving average price of $33.56 and a 200 day moving average price of $26.73. Ibotta, Inc. has a 12 month low of $19.10 and a 12 month high of $46.93. The company has a market cap of $645.19 million, a price-to-earnings ratio of -93.94 and a beta of -0.59.
Ibotta (NYSE:IBTA – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.45. Ibotta had a negative net margin of 2.15% and a negative return on equity of 2.39%. The firm had revenue of $82.48 million during the quarter. During the same quarter last year, the company earned $0.02 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, analysts anticipate that Ibotta, Inc. will post 0.24 earnings per share for the current year.
Analyst Ratings Changes
Several analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Ibotta from $34.00 to $38.00 and gave the company an “equal weight” rating 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. Zacks Research upgraded shares of Ibotta from a “strong sell” rating to a “hold” rating in a research report on Monday. Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Evercore set a $40.00 price objective on shares of Ibotta in a research report on Thursday, May 7th. One research 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, Ibotta presently has a consensus rating of “Reduce” and an average target price of $33.00.
Check Out Our Latest Analysis on IBTA
Hedge Funds Weigh In On Ibotta
A number of large investors have recently made changes to their positions in IBTA. Deutsche Bank AG increased its holdings in shares of Ibotta by 3,449.8% in the 4th quarter. Deutsche Bank AG now owns 369,890 shares of the company’s stock valued at $8,408,000 after purchasing an additional 359,470 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Ibotta by 90.2% in the 3rd quarter. Citigroup Inc. now owns 641,337 shares of the company’s stock valued at $17,861,000 after purchasing an additional 304,183 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of Ibotta by 39.3% in the 3rd quarter. ARK Investment Management LLC now owns 907,386 shares of the company’s stock valued at $25,271,000 after purchasing an additional 255,899 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Ibotta by 17.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock valued at $43,749,000 after purchasing an additional 232,027 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Ibotta in the 2nd quarter valued at about $8,397,000.
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.
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