Ibotta (NYSE:IBTA) Shares Down 7% – Here’s What Happened

Ibotta, Inc. (NYSE:IBTA)’s share price fell 7% during trading on Monday . The company traded as low as $36.10 and last traded at $36.14. Approximately 41,425 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 262,505 shares. The stock had previously closed at $38.84.

Analyst Ratings Changes

Several research firms recently weighed in on IBTA. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research note on Wednesday, June 24th. Evercore set a $42.00 price target on Ibotta in a research report on Tuesday, August 4th. UBS Group upped their price target on Ibotta from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Zacks Research raised Ibotta from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $36.50.

Ibotta Trading Down 8.8%

The stock has a market cap of $715.89 million, a P/E ratio of -75.40 and a beta of -0.43. The business’s fifty day simple moving average is $31.87 and its 200 day simple moving average is $29.77.

Insider Activity

In other Ibotta news, CTO Luke Roy Swanson sold 5,940 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $24.47, for a total transaction of $145,351.80. Following the transaction, the chief technology officer owned 483,964 shares of the company’s stock, valued at approximately $11,842,599.08. This represents a 1.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas D. Lehrman sold 8,154 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $36.08, for a total value of $294,196.32. Following the completion of the transaction, the director owned 22,115 shares in the company, valued at $797,909.20. The trade was a 26.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 561,027 shares of company stock valued at $17,186,706 over the last three months. 20.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Ibotta

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ibotta by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock valued at $396,000 after acquiring an additional 515 shares during the last quarter. Quantbot Technologies LP increased its position in Ibotta by 34.6% in the third quarter. Quantbot Technologies LP now owns 2,420 shares of the company’s stock worth $67,000 after purchasing an additional 622 shares during the period. Essential Partners LLC raised its holdings in Ibotta by 40,800.0% during the 1st quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after purchasing an additional 816 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Ibotta by 5.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,769 shares of the company’s stock valued at $404,000 after purchasing an additional 855 shares during the period. Finally, Legal & General Group Plc lifted its position in Ibotta by 9.0% during the 3rd quarter. Legal & General Group Plc now owns 13,461 shares of the company’s stock valued at $375,000 after purchasing an additional 1,112 shares during the period.

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.