Insider Selling: Ibotta (NYSE:IBTA) Director Sells $635,392.68 in Stock

Ibotta, Inc. (NYSE:IBTA) Director Thomas Lehrman sold 19,788 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $32.11, for a total value of $635,392.68. Following the completion of the transaction, the director directly owned 32,981 shares of the company’s stock, valued at $1,059,019.91. This represents a 37.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ibotta Stock Performance

Shares of IBTA opened at $32.09 on Friday. The stock has a 50-day moving average price of $31.70 and a 200 day moving average price of $26.19. Ibotta, Inc. has a one year low of $19.10 and a one year high of $54.30. The company has a market capitalization of $648.22 million, a P/E ratio of -94.38 and a beta of -0.61.

Ibotta (NYSE:IBTA) last released its earnings results on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates 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 prior year, the business earned $0.02 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Ibotta, Inc. will post 0.24 earnings per share for the current fiscal year.

Ibotta declared that its board has approved a share repurchase 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 generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Ibotta

Several hedge funds have recently made changes to their positions in IBTA. Essential Partners LLC lifted its holdings in shares of Ibotta by 40,800.0% in 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. New York State Teachers Retirement System bought a new stake in shares of Ibotta in the 1st quarter worth approximately $39,000. Meeder Asset Management Inc. bought a new stake in shares of Ibotta in the 1st quarter worth approximately $39,000. CWM LLC increased its position in Ibotta by 50.8% in the 3rd quarter. CWM LLC now owns 1,422 shares of the company’s stock valued at $40,000 after acquiring an additional 479 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position in Ibotta by 187.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock valued at $41,000 after acquiring an additional 1,185 shares during the period.

Analysts Set New Price Targets

A number of research analysts have commented on IBTA shares. Needham & Company LLC increased their target price on Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wells Fargo & Company increased their target price on Ibotta from $34.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a report on Friday, March 27th. Wall Street Zen raised Ibotta from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research downgraded Ibotta from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $33.00.

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.