Thomas Lehrman Sells 19,788 Shares of Ibotta (NYSE:IBTA) Stock

Ibotta, Inc. (NYSE:IBTA) Director Thomas Lehrman sold 19,788 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $32.11, for a total transaction of $635,392.68. Following the transaction, the director directly owned 32,981 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink.

Ibotta Stock Performance

Shares of IBTA traded up $1.02 during midday trading on Tuesday, hitting $33.02. 202,989 shares of the company traded hands, compared to its average volume of 288,459. The firm has a 50 day moving average of $31.11 and a 200-day moving average of $26.19. Ibotta, Inc. has a 52 week low of $19.10 and a 52 week high of $55.63. The stock has a market cap of $667.00 million, a price-to-earnings ratio of -97.12 and a beta of -0.61.

Ibotta (NYSE:IBTA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, beating the consensus estimate 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 period last year, the company earned $0.02 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Sell-side analysts predict that Ibotta, Inc. will post -0.62 earnings per share for the current fiscal year.

Ibotta declared that its board has approved a stock repurchase plan on Wednesday, March 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 21.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Ibotta

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ibotta by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock worth $396,000 after purchasing an additional 515 shares during the period. Jones Financial Companies Lllp purchased a new stake in Ibotta in the 1st quarter worth about $161,000. Goldman Sachs Group Inc. raised its position in Ibotta by 16.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 122,514 shares of the company’s stock worth $5,170,000 after purchasing an additional 17,421 shares during the period. Legal & General Group Plc raised its position in Ibotta by 43.5% in the 2nd quarter. Legal & General Group Plc now owns 12,349 shares of the company’s stock worth $452,000 after purchasing an additional 3,746 shares during the period. Finally, Norges Bank purchased a new stake in Ibotta in the 2nd quarter worth about $781,000.

Analyst Ratings Changes

IBTA has been the topic of several recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research report on Friday, March 27th. Evercore set a $40.00 target price on shares of Ibotta in a research report on Thursday, May 7th. Needham & Company LLC upped their target price on shares of Ibotta from $33.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Wells Fargo & Company upped their target price on shares of Ibotta from $34.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $33.00.

About Ibotta

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.