BNP Paribas Financial Markets Sells 82,890 Shares of Ibotta, Inc. $IBTA

Key Points

• BNP Paribas Financial Markets reduced its Ibotta stake by 20.3% in the fourth quarter, selling 82,890 shares and leaving it with 325,046 shares valued at about $7.39 million.
• Several institutional investors also adjusted their Ibotta holdings, with firms like Citigroup, ARK Investment Management, and Vanguard increasing positions during recent quarters.
• Ibotta has drawn mixed signals from analysts and insiders: the stock has a consensus rating of “Reduce”, while insiders sold 107,701 shares over the last 90 days; the company also reported better-than-expected quarterly EPS and has a $100 million share buyback program underway.

BNP Paribas Financial Markets cut its stake in shares of Ibotta, Inc. (NYSE:IBTA - Free Report) by 20.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 325,046 shares of the company's stock after selling 82,890 shares during the quarter. BNP Paribas Financial Markets owned 1.39% of Ibotta worth $7,388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in IBTA. Citigroup Inc. grew its holdings in shares of Ibotta by 90.2% during the 3rd quarter. Citigroup Inc. now owns 641,337 shares of the company's stock valued at $17,861,000 after purchasing an additional 304,183 shares during the last quarter. ARK Investment Management LLC grew its holdings in shares of Ibotta by 39.3% during the 3rd quarter. ARK Investment Management LLC now owns 907,386 shares of the company's stock valued at $25,271,000 after purchasing an additional 255,899 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Ibotta by 17.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company's stock valued at $43,749,000 after purchasing an additional 232,027 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Ibotta during the 2nd quarter valued at approximately $8,397,000. Finally, Amova Asset Management Americas Inc. grew its holdings in shares of Ibotta by 15.6% during the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,279,652 shares of the company's stock valued at $35,600,000 after purchasing an additional 172,314 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ibotta in a report on Friday, March 27th. Zacks Research lowered shares of Ibotta from a "hold" rating to a "strong sell" rating in a report on Friday, May 8th. Evercore set a $40.00 target price on shares of Ibotta in a report on Thursday, May 7th. Wall Street Zen raised shares of Ibotta from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Needham & Company LLC boosted their target price on shares of Ibotta from $33.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Ibotta has a consensus rating of "Reduce" and a consensus price target of $33.00.

Insider Buying and Selling

In other news, Director Thomas D. Lehrman sold 30,119 shares of the business's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $30.78, for a total value of $927,062.82. Following the transaction, the director owned 40,744 shares in the company, valued at approximately $1,254,100.32. The trade was a 42.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Luke Roy Swanson sold 5,940 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $32.98, for a total transaction of $195,901.20. Following the completion of the transaction, the chief technology officer owned 495,844 shares in the company, valued at $16,352,935.12. This trade represents a 1.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 107,701 shares of company stock worth $3,419,255 in the last 90 days. Corporate insiders own 20.92% of the company's stock.

Ibotta Price Performance

IBTA opened at $33.27 on Wednesday. Ibotta, Inc. has a fifty-two week low of $19.10 and a fifty-two week high of $49.99. The firm has a market capitalization of $672.05 million, a price-to-earnings ratio of -97.85 and a beta of -0.59. The company's 50 day moving average price is $33.51 and its two-hundred day moving average price is $26.67.

Ibotta (NYSE:IBTA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.45. The firm had revenue of $82.48 million for the quarter. Ibotta had a negative net margin of 2.15% and a negative return on equity of 2.39%. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 EPS. As a group, equities research analysts predict that Ibotta, Inc. will post 0.24 EPS for the current year.

Ibotta declared that its Board of Directors has initiated a share buyback program on Wednesday, March 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 21.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

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.

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