Ibotta, Inc. (NYSE:IBTA – Get Free Report) Director Thomas Lehrman sold 8,154 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $36.08, for a total transaction of $294,196.32. Following the sale, the director directly owned 22,115 shares of the company’s stock, valued at approximately $797,909.20. This trade represents a 26.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Ibotta Stock Up 0.9%
Shares of IBTA stock opened at $38.53 on Friday. Ibotta, Inc. has a fifty-two week low of $19.10 and a fifty-two week high of $40.49. The firm’s 50 day moving average price is $31.87 and its two-hundred day moving average price is $29.72. The stock has a market cap of $778.31 million, a price-to-earnings ratio of -81.98 and a beta of -0.44.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Evercore set a $42.00 price objective on Ibotta in a research note on Tuesday, August 4th. Wells Fargo & Company increased their price objective on shares of Ibotta from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 4th. UBS Group lifted their price objective on shares of Ibotta from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group boosted their target price on shares of Ibotta from $28.00 to $32.00 and gave the stock a “sell” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $36.50.
Institutional Investors Weigh In On Ibotta
Hedge funds have recently bought and sold shares of the business. Essential Partners LLC raised its position in shares of Ibotta by 40,800.0% in the 1st quarter. Essential Partners LLC now owns 818 shares of the company’s stock valued at $25,000 after purchasing an additional 816 shares in the last quarter. Bank of America Corp DE grew its position in shares of Ibotta by 17.8% during the first quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock worth $7,168,000 after buying an additional 36,223 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Ibotta by 17.7% during the first quarter. Renaissance Technologies LLC now owns 239,300 shares of the company’s stock worth $7,172,000 after buying an additional 35,992 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Ibotta in the first quarter worth $344,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Ibotta in the first quarter worth $39,000.
Ibotta Company Profile
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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