Thomas Lehrman Sells 30,119 Shares of Ibotta (NYSE:IBTA) Stock

Ibotta, Inc. (NYSE:IBTA) Director Thomas Lehrman sold 30,119 shares of Ibotta stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $30.78, for a total value of $927,062.82. Following the sale, the director directly owned 40,744 shares in the company, valued at $1,254,100.32. The trade was a 42.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Ibotta Stock Performance

Shares of NYSE:IBTA traded up $1.02 during trading on Tuesday, hitting $33.02. 202,989 shares of the stock were exchanged, compared to its average volume of 288,459. Ibotta, Inc. has a 1-year low of $19.10 and a 1-year high of $55.63. The company has a market capitalization of $667.00 million, a price-to-earnings ratio of -97.12 and a beta of -0.61. The company’s fifty day simple moving average is $31.11 and its 200-day simple moving average is $26.19.

Ibotta (NYSE:IBTA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.45. Ibotta had a negative return on equity of 2.39% and a negative net margin of 2.15%.The company had revenue of $82.48 million for the quarter. During the same period in the previous year, the business posted $0.02 EPS. Ibotta’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, research analysts forecast that Ibotta, Inc. will post -0.62 earnings per share for the current fiscal year.

Ibotta announced that its Board of Directors has authorized a stock buyback program on Wednesday, March 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to buy up to 21.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Zacks Research lowered Ibotta from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Evercore set a $40.00 price objective on Ibotta in a report on Thursday, May 7th. Needham & Company LLC lifted their price objective on Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wall Street Zen raised Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Wells Fargo & Company boosted their price target on Ibotta from $34.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $33.00.

Institutional Trading of Ibotta

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its stake in Ibotta by 17.8% in the 1st quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock valued at $7,168,000 after buying an additional 36,223 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Ibotta by 17.7% in the 1st quarter. Renaissance Technologies LLC now owns 239,300 shares of the company’s stock valued at $7,172,000 after buying an additional 35,992 shares in the last quarter. Sei Investments Co. acquired a new stake in Ibotta in the 1st quarter valued at $344,000. Meeder Asset Management Inc. acquired a new stake in Ibotta in the 1st quarter valued at $39,000. Finally, Hsbc Holdings PLC boosted its stake in Ibotta by 1.5% in the 1st quarter. Hsbc Holdings PLC now owns 1,009,287 shares of the company’s stock valued at $30,581,000 after buying an additional 15,310 shares in 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.