Ibotta (NYSE:IBTA) Insider Marisa Daspit Sells 2,956 Shares

Ibotta, Inc. (NYSE:IBTA) insider Marisa Daspit sold 2,956 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $24.06, for a total transaction of $71,121.36. Following the transaction, the insider directly owned 127,597 shares in the company, valued at $3,069,983.82. This trade represents a 2.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Ibotta Stock Performance

Shares of IBTA traded up $0.07 during trading hours on Monday, reaching $23.48. 253,615 shares of the company traded hands, compared to its average volume of 339,651. Ibotta, Inc. has a 1-year low of $19.10 and a 1-year high of $62.74. The stock has a market cap of $498.08 million, a P/E ratio of 213.47 and a beta of -1.20. The stock’s fifty day moving average is $22.23 and its 200 day moving average is $25.30.

Ibotta (NYSE:IBTA) last posted its quarterly 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 net margin of 1.04% and a return on equity of 1.04%. The firm had revenue of $88.53 million during the quarter. During the same period last year, the business posted $0.67 earnings per share. The firm’s quarterly revenue was down 10.0% on a year-over-year basis.

Wall Street Analyst Weigh In

IBTA has been the subject of a number of analyst reports. Evercore reduced their price objective on shares of Ibotta from $38.00 to $32.00 and set an “in-line” rating for the company in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a report on Monday, December 29th. Wall Street Zen downgraded Ibotta from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. The Goldman Sachs Group lowered their target price on shares of Ibotta from $26.00 to $23.00 and set a “sell” rating on the stock in a report on Thursday, November 13th. Finally, Bank of America reduced their price target on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating on the stock in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ibotta currently has a consensus rating of “Reduce” and a consensus price target of $33.14.

Institutional Investors Weigh In On Ibotta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of Ibotta by 481.8% in the second quarter. JPMorgan Chase & Co. now owns 654,876 shares of the company’s stock valued at $23,968,000 after purchasing an additional 542,313 shares in the last quarter. Deutsche Bank AG grew its position in shares of Ibotta by 3,449.8% during the 4th quarter. Deutsche Bank AG now owns 369,890 shares of the company’s stock worth $8,408,000 after buying an additional 359,470 shares during the period. Citigroup Inc. boosted its stake in Ibotta by 90.2% during the 3rd quarter. Citigroup Inc. now owns 641,337 shares of the company’s stock worth $17,861,000 after acquiring an additional 304,183 shares during the last quarter. ARK Investment Management LLC raised its holdings in Ibotta by 39.3% in the third quarter. ARK Investment Management LLC now owns 907,386 shares of the company’s stock worth $25,271,000 after purchasing an additional 255,899 shares during the period. Finally, Vanguard Group Inc. increased its stake in Ibotta by 17.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock valued at $43,749,000 after buying an additional 232,027 shares during the last quarter.

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.