JPMorgan Chase & Co. Sells 82,786 Shares of Ibotta, Inc. $IBTA

JPMorgan Chase & Co. lowered its stake in shares of Ibotta, Inc. (NYSE:IBTA) by 12.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 572,090 shares of the company’s stock after selling 82,786 shares during the quarter. JPMorgan Chase & Co. owned 2.26% of Ibotta worth $15,933,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers raised its position in Ibotta by 2.0% during the third quarter. Rhumbline Advisers now owns 19,256 shares of the company’s stock valued at $536,000 after purchasing an additional 380 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of Ibotta during the 3rd quarter valued at about $924,000. Y Intercept Hong Kong Ltd bought a new stake in Ibotta in the 3rd quarter worth approximately $217,000. Strs Ohio grew its position in Ibotta by 49.3% during the third quarter. Strs Ohio now owns 21,800 shares of the company’s stock valued at $607,000 after acquiring an additional 7,200 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Ibotta by 15.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,281,219 shares of the company’s stock worth $35,682,000 after acquiring an additional 168,054 shares in the last quarter.

Analyst Ratings Changes

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

Ibotta Price Performance

Shares of NYSE:IBTA opened at $25.59 on Wednesday. The stock’s 50-day moving average is $22.15 and its 200 day moving average is $25.37. The company has a market cap of $542.76 million, a PE ratio of 232.66 and a beta of -1.20. Ibotta, Inc. has a 1 year low of $19.10 and a 1 year high of $62.74.

Ibotta (NYSE:IBTA) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). The business had revenue of $88.53 million during the quarter. Ibotta had a return on equity of 1.04% and a net margin of 1.04%.The business’s revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 EPS.

Ibotta 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.