Ibotta (NYSE:IBTA) Director Sells 19,561 Shares of Stock

Ibotta, Inc. (NYSE:IBTA) Director Thomas Lehrman sold 19,561 shares of Ibotta stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $36.22, for a total transaction of $708,499.42. Following the completion of the sale, the director directly owned 25,312 shares of the company’s stock, valued at $916,800.64. The trade was a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Ibotta Stock Performance

NYSE IBTA traded up $2.26 during trading hours on Thursday, hitting $38.11. 326,340 shares of the company’s stock were exchanged, compared to its average volume of 263,992. The firm has a market capitalization of $769.82 million, a P/E ratio of -81.08 and a beta of -0.44. Ibotta, Inc. has a 12-month low of $19.10 and a 12-month high of $40.49. The business’s 50 day moving average is $31.65 and its 200-day moving average is $29.55.

Institutional Investors Weigh In On Ibotta

A number of large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ibotta by 5.8% during 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 in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Ibotta during the first quarter valued at $161,000. Goldman Sachs Group Inc. raised its position in Ibotta by 16.6% during the first quarter. Goldman Sachs Group Inc. now owns 122,514 shares of the company’s stock valued at $5,170,000 after buying an additional 17,421 shares during the period. Legal & General Group Plc lifted its stake 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 acquiring an additional 3,746 shares in the last quarter. Finally, Norges Bank purchased a new stake in Ibotta in the 2nd quarter worth about $781,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IBTA. UBS Group boosted their target price on Ibotta from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a report on Wednesday, June 24th. Zacks Research upgraded shares of Ibotta from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Wells Fargo & Company raised their price objective on Ibotta from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. Finally, Evercore set a $42.00 target price on Ibotta in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Ibotta has a consensus rating of “Reduce” and an average target price of $36.50.

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.