Key Points
- Ibotta director Thomas Lehrman sold 19,788 shares on May 18 at an average price of $32.11, totaling about $635,393. The sale cut his direct stake by 37.5% to 32,981 shares.
- The company recently beat earnings expectations, reporting $0.24 EPS versus a consensus loss estimate of $0.21, on revenue of $82.48 million. However, revenue was still down 2.5% year over year and the company remains unprofitable.
- Sentiment on IBTA is mixed: Ibotta has a $100 million share buyback authorization, while analysts currently hold a consensus “Reduce” rating with an average target price of $33.00. Recent ratings changes ranged from a downgrade to “strong sell” to price-target increases from other firms.
Ibotta, Inc. (NYSE:IBTA - Get Free Report) Director Thomas Lehrman sold 19,788 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $32.11, for a total value of $635,392.68. Following the completion of the sale, the director directly owned 32,981 shares in the company, valued at $1,059,019.91. This trade represents a 37.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Ibotta Stock Performance
Ibotta stock opened at $33.02 on Wednesday. The firm has a market capitalization of $667.00 million, a price-to-earnings ratio of -97.12 and a beta of -0.61. Ibotta, Inc. has a fifty-two week low of $19.10 and a fifty-two week high of $55.63. The stock's fifty day moving average is $31.30 and its two-hundred day moving average is $26.18.
Ibotta (NYSE:IBTA - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.45. The company had revenue of $82.48 million for the quarter. Ibotta had a negative return on equity of 2.39% and a negative net margin of 2.15%.The firm's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. As a group, sell-side analysts forecast that Ibotta, Inc. will post -0.29 EPS for the current fiscal year.
Ibotta announced that its board has authorized a stock buyback plan on Wednesday, March 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 21.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.
Institutional Trading of Ibotta
A number of large investors have recently made changes to their positions in IBTA. Deutsche Bank AG boosted its stake in shares of Ibotta by 3,449.8% during the fourth quarter. Deutsche Bank AG now owns 369,890 shares of the company's stock valued at $8,408,000 after acquiring an additional 359,470 shares during the last quarter. Citigroup Inc. lifted its position in Ibotta by 90.2% during the third quarter. Citigroup Inc. now owns 641,337 shares of the company's stock worth $17,861,000 after buying an additional 304,183 shares during the period. ARK Investment Management LLC lifted its position in Ibotta by 39.3% during the third quarter. ARK Investment Management LLC now owns 907,386 shares of the company's stock worth $25,271,000 after buying an additional 255,899 shares during the period. Vanguard Group Inc. lifted its position in Ibotta by 17.3% during the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company's stock worth $43,749,000 after buying an additional 232,027 shares during the period. Finally, Marshall Wace LLP purchased a new position in Ibotta during the second quarter worth about $8,397,000.
Wall Street Analyst Weigh In
IBTA has been the topic of several research reports. Zacks Research lowered Ibotta from a "hold" rating to a "strong sell" rating in a report on Friday, May 8th. Needham & Company LLC increased their price objective on Ibotta from $33.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Wall Street Zen raised Ibotta from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Wells Fargo & Company increased their price objective on Ibotta from $34.00 to $38.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Finally, Evercore set a $40.00 price objective on Ibotta in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $33.00.
Read Our Latest Analysis on IBTA
Ibotta Company Profile
(
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.
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