Primecap Management Co. CA Has $4.18 Million Stock Position in Ibotta, Inc. $IBTA

Primecap Management Co. CA boosted its holdings in shares of Ibotta, Inc. (NYSE:IBTA) by 25.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,165 shares of the company’s stock after purchasing an additional 30,190 shares during the period. Primecap Management Co. CA owned about 0.59% of Ibotta worth $4,182,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Rhumbline Advisers lifted its position in shares of Ibotta by 2.0% during the 3rd quarter. Rhumbline Advisers now owns 19,256 shares of the company’s stock worth $536,000 after buying an additional 380 shares during the last quarter. CWM LLC raised its stake in Ibotta by 50.8% during the third quarter. CWM LLC now owns 1,422 shares of the company’s stock worth $40,000 after acquiring an additional 479 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Ibotta by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock worth $396,000 after acquiring an additional 515 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Ibotta in the 2nd quarter valued at approximately $66,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Ibotta by 144.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,851 shares of the company’s stock valued at $141,000 after purchasing an additional 2,274 shares during the last quarter.

Ibotta Stock Down 5.5%

NYSE IBTA opened at $24.90 on Friday. The company has a market capitalization of $583.78 million, a price-to-earnings ratio of 226.38 and a beta of -0.88. Ibotta, Inc. has a twelve month low of $19.10 and a twelve month high of $62.74. The stock has a fifty day simple moving average of $22.01 and a 200 day simple moving average of $25.47.

Ibotta (NYSE:IBTA) last announced its earnings results on Wednesday, February 25th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). Ibotta had a return on equity of 0.99% and a net margin of 1.04%.The company had revenue of $88.53 million for the quarter. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was down 10.0% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Bank of America dropped their price objective on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating for the company in a research note on Thursday, November 13th. Evercore dropped their price target on Ibotta from $38.00 to $32.00 and set an “in-line” rating for the company in a research note on Thursday, November 13th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a report on Monday, December 29th. The Goldman Sachs Group lowered their target price on Ibotta from $26.00 to $23.00 and set a “sell” rating for the company in a report on Thursday, November 13th. Finally, Wall Street Zen lowered Ibotta from a “hold” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $33.14.

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.