9,189 Shares in Ibotta, Inc. (NYSE:IBTA) Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. acquired a new position in Ibotta, Inc. (NYSE:IBTA - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 9,189 shares of the company's stock, valued at approximately $388,000.

Several other large investors also recently bought and sold shares of the business. ARK Investment Management LLC lifted its position in shares of Ibotta by 299.8% during the 1st quarter. ARK Investment Management LLC now owns 704,308 shares of the company's stock valued at $29,722,000 after buying an additional 528,147 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its position in shares of Ibotta by 68.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,053,518 shares of the company's stock valued at $44,458,000 after acquiring an additional 429,516 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Ibotta by 67.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,043,758 shares of the company's stock valued at $44,047,000 after acquiring an additional 419,516 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Ibotta during the 1st quarter valued at approximately $3,539,000. Finally, Wilkins Investment Counsel Inc. increased its position in shares of Ibotta by 1,608.5% during the 1st quarter. Wilkins Investment Counsel Inc. now owns 63,727 shares of the company's stock valued at $2,689,000 after purchasing an additional 59,997 shares during the last quarter.

Ibotta Stock Down 4.5%

Shares of NYSE:IBTA traded down $1.64 during trading on Friday, hitting $34.71. The stock had a trading volume of 449,502 shares, compared to its average volume of 408,901. Ibotta, Inc. has a 12-month low of $31.40 and a 12-month high of $79.80. The stock has a market capitalization of $878.51 million, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 3.08 and a beta of -1.29. The stock has a 50-day simple moving average of $41.37 and a two-hundred day simple moving average of $51.80.

Ibotta (NYSE:IBTA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. Ibotta had a return on equity of 15.04% and a net margin of 16.24%. The company had revenue of $84.57 million during the quarter, compared to analysts' expectations of $81.70 million. During the same period last year, the business earned $0.33 earnings per share. Ibotta's quarterly revenue was up 2.8% on a year-over-year basis.

Ibotta announced that its board has approved a share buyback plan on Monday, June 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 8.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

IBTA has been the topic of several analyst reports. JMP Securities reissued a "market outperform" rating and set a $58.00 target price on shares of Ibotta in a research report on Thursday, May 15th. Wells Fargo & Company boosted their target price on Ibotta from $52.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. The Goldman Sachs Group increased their target price on Ibotta from $50.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Needham & Company LLC increased their target price on Ibotta from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Ibotta in a research note on Thursday, May 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.60.

Insider Buying and Selling

In related news, major shareholder Jermoluk Founders Fund I. Clark sold 1,578,502 shares of Ibotta stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $35.00, for a total transaction of $55,247,570.00. Following the transaction, the insider owned 3,841,308 shares in the company, valued at approximately $134,445,780. This trade represents a 29.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Richard I. Donahue sold 85,289 shares of Ibotta stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $43.09, for a total value of $3,675,103.01. Following the transaction, the chief marketing officer owned 199,773 shares in the company, valued at approximately $8,608,218.57. The trade was a 29.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,192,224 shares of company stock worth $78,652,577 over the last ninety days. Corporate insiders own 16.08% of the company's stock.

Ibotta Profile

Ibotta's mission is to Make Every Purchase Rewarding. Our technology allows CPG brands to deliver digital promotions to over 200 million consumers through a single, convenient network called the Ibotta Performance Network (IPN). We are pioneers in success-based marketing: we only get paid when our client's promotion results in a sale, not when a consumer merely views or clicks on the promotion.