Ibotta, Inc. (NYSE:IBTA - Get Free Report) CTO Luke Roy Swanson sold 5,940 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $32.98, for a total value of $195,901.20. Following the completion of the sale, the chief technology officer directly owned 495,844 shares of the company's stock, valued at approximately $16,352,935.12. The trade was a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Ibotta Trading Down 2.0%
IBTA opened at $32.20 on Tuesday. Ibotta, Inc. has a 1-year low of $19.10 and a 1-year high of $50.01. The stock's fifty day simple moving average is $33.42 and its 200 day simple moving average is $26.61. The stock has a market cap of $650.44 million, a PE ratio of -94.71 and a beta of -0.59.
Ibotta (NYSE:IBTA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.45. Ibotta had a negative return on equity of 2.39% and a negative net margin of 2.15%.The business had revenue of $82.48 million for the quarter. During the same quarter last year, the company posted $0.02 EPS. The firm's revenue was down 2.5% on a year-over-year basis. Equities analysts forecast that Ibotta, Inc. will post 0.24 earnings per share for the current year.
Ibotta announced that its board has authorized a share repurchase plan on Wednesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 21.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on IBTA shares. Wells Fargo & Company increased their price target on Ibotta from $34.00 to $38.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Evercore set a $40.00 price target on Ibotta in a research note on Thursday, May 7th. Weiss Ratings reiterated a "sell (d)" rating on shares of Ibotta in a research report on Friday, March 27th. Needham & Company LLC increased their price objective on Ibotta from $33.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, Zacks Research cut Ibotta from a "hold" rating to a "strong sell" rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $33.00.
Get Our Latest Stock Analysis on IBTA
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Citigroup Inc. boosted its stake in Ibotta by 90.2% in the third quarter. Citigroup Inc. now owns 641,337 shares of the company's stock valued at $17,861,000 after buying an additional 304,183 shares in the last quarter. ARK Investment Management LLC boosted its stake in Ibotta by 39.3% in the third quarter. ARK Investment Management LLC now owns 907,386 shares of the company's stock valued at $25,271,000 after buying an additional 255,899 shares in the last quarter. Amova Asset Management Americas Inc. boosted its stake in Ibotta by 15.6% in the third quarter. Amova Asset Management Americas Inc. now owns 1,279,652 shares of the company's stock valued at $35,600,000 after buying an additional 172,314 shares in the last quarter. Primecap Management Co. CA boosted its stake in Ibotta by 25.2% in the third quarter. Primecap Management Co. CA now owns 150,165 shares of the company's stock valued at $4,182,000 after buying an additional 30,190 shares in the last quarter. Finally, FourThought Financial Partners LLC acquired a new stake in Ibotta in the fourth quarter valued at about $526,000.
Ibotta Company Profile
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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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