Key Points
- Director Thomas Lehrman sold 10,000 shares of Ibotta on May 11 at an average price of $33.52, reducing his ownership by 8.6% and bringing the transaction value to $335,200.
- Ibotta recently reported better-than-expected quarterly earnings of $0.24 per share, beating analyst estimates, though revenue fell 2.5% year over year to $82.48 million.
- The company’s board has authorized a $100 million stock buyback, while analysts remain cautious overall with a consensus rating of “Reduce” and an average price target of $36.57.
Ibotta, Inc. (NYSE:IBTA - Get Free Report) Director Thomas Lehrman sold 10,000 shares of Ibotta stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $33.52, for a total value of $335,200.00. Following the sale, the director owned 106,275 shares in the company, valued at $3,562,338. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Ibotta Trading Down 1.2%
Ibotta stock opened at $32.33 on Thursday. Ibotta, Inc. has a 52 week low of $19.10 and a 52 week high of $62.74. The stock has a market cap of $653.07 million, a P/E ratio of -95.09 and a beta of -0.61. The stock has a 50 day moving average of $30.73 and a 200-day moving average of $26.27.
Ibotta (NYSE:IBTA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $82.48 million during the quarter. During the same quarter last year, the firm posted $0.02 EPS. The firm's quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts predict that Ibotta, Inc. will post -0.62 earnings per share for the current fiscal year.
Ibotta announced that its board has authorized a stock buyback program on Wednesday, March 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 21.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.
Wall Street Analyst Weigh In
Several brokerages have recently commented on IBTA. Evercore set a $40.00 price target on shares of Ibotta in a research report on Thursday, May 7th. Zacks Research lowered Ibotta from a "hold" rating to a "strong sell" rating in a report on Friday, May 8th. Wells Fargo & Company increased their target price on Ibotta from $34.00 to $38.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Weiss Ratings reiterated a "sell (d)" rating on shares of Ibotta in a research report on Friday, March 27th. Finally, Wall Street Zen upgraded Ibotta from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $36.57.
Get Our Latest Analysis on IBTA
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. New York State Teachers Retirement System bought a new stake in shares of Ibotta during the 1st quarter valued at about $39,000. Meeder Asset Management Inc. acquired a new stake in Ibotta during the first quarter worth about $39,000. CWM LLC lifted its holdings in Ibotta by 50.8% in the third quarter. CWM LLC now owns 1,422 shares of the company's stock worth $40,000 after acquiring an additional 479 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Ibotta by 187.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company's stock valued at $41,000 after acquiring an additional 1,185 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in Ibotta by 47,920.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company's stock valued at $55,000 after acquiring an additional 2,396 shares during the period.
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
