Ibotta, Inc. (NYSE:IBTA – Get Free Report) reached a new 52-week high during trading on Wednesday. The stock traded as high as $50.10 and last traded at $49.93, with a volume of 146,958 shares trading hands. The stock had previously closed at $48.13.
Wall Street Analysts Forecast Growth
IBTA has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a research report on Monday, September 21st. Needham & Company LLC restated a “buy” rating and set a $45.00 target price on shares of Ibotta in a research report on Tuesday, August 4th. The Goldman Sachs Group raised their target price on shares of Ibotta from $28.00 to $32.00 and gave the company a “sell” rating in a research note on Tuesday, August 4th. Evercore set a $42.00 price target on shares of Ibotta in a research report on Tuesday, August 4th. Finally, UBS Group boosted their price target on shares of Ibotta from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $36.50.
View Our Latest Report on Ibotta
Ibotta Stock Up 3.4%
The business has a fifty day moving average of $40.40 and a 200 day moving average of $35.36. The firm has a market cap of $1.01 billion, a P/E ratio of -105.93 and a beta of -0.29.
Insider Activity
In related news, Director Thomas D. Lehrman sold 19,561 shares of Ibotta stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $36.22, for a total transaction of $708,499.42. Following the transaction, the director owned 25,312 shares of the company’s stock, valued at $916,800.64. This trade represents a 43.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Luke Swanson sold 20,100 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $40.04, for a total transaction of $804,804.00. Following the transaction, the chief technology officer owned 446,032 shares of the company’s stock, valued at approximately $17,859,121.28. This represents a 4.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 116,068 shares of company stock valued at $4,271,876 over the last 90 days. Corporate insiders own 20.92% of the company’s stock.
Institutional Investors Weigh In On Ibotta
Several hedge funds have recently bought and sold shares of the company. Essential Partners LLC boosted its position in shares of Ibotta by 40,800.0% during the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after purchasing an additional 816 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Ibotta by 32.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 1,083 shares of the company’s stock valued at $42,000 after buying an additional 268 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Ibotta in the 1st quarter valued at $39,000. New York State Teachers Retirement System bought a new stake in shares of Ibotta in the 1st quarter valued at $39,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Ibotta by 335.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,754 shares of the company’s stock valued at $63,000 after buying an additional 2,122 shares in the last quarter.
Ibotta Company Profile
Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Its services help consumers earn cash back and other incentives by engaging with offers from consumer packaged goods brands and retailers.
The company’s platform is available through the Ibotta mobile application, website, and integrated retail and digital-commerce experiences. Users can browse eligible offers, make qualifying purchases, and receive rewards after submitting proof of purchase or linking eligible loyalty accounts.
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