Ibotta, Inc. (NYSE:IBTA) Given Average Recommendation of "Reduce" by Brokerages

Key Points

• Analysts rate Ibotta “Reduce” overall: Three recommend selling, six advise holding and one recommends buying. The average 12-month price target is $36.50, slightly below the reported share price of $36.42.
• Insiders have been selling shares: Insiders sold 594,527 shares worth approximately $18.0 million over the last quarter, including a 500,000-share sale by Jermoluk Founders Fund I.
• Institutional interest was mixed but included new buying: Goldman Sachs and Legal & General increased their positions, while Norges Bank established a new stake. Ibotta shares were up 0.6%, with a market capitalization of about $735.7 million.

Shares of Ibotta, Inc. (NYSE:IBTA - Get Free Report) have been given a consensus rating of "Reduce" by the ten research firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $36.50.

Several brokerages recently commented on IBTA. UBS Group lifted their price target on shares of Ibotta from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Evercore set a $42.00 price objective on shares of Ibotta in a research note on Tuesday, August 4th. Wall Street Zen upgraded Ibotta from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Wells Fargo & Company boosted their target price on Ibotta from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Tuesday, August 4th. Finally, Zacks Research raised Ibotta from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th.

Insider Buying and Selling at Ibotta

In other news, CTO Luke Roy Swanson sold 5,940 shares of Ibotta stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $24.47, for a total value of $145,351.80. Following the transaction, the chief technology officer directly owned 483,964 shares of the company's stock, valued at $11,842,599.08. The trade was a 1.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jermoluk Founders Fund I. Clark sold 500,000 shares of the company's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $30.15, for a total transaction of $15,075,000.00. Following the completion of the sale, the insider owned 3,341,308 shares of the company's stock, valued at approximately $100,740,436.20. This trade represents a 13.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 594,527 shares of company stock worth $18,019,902. 20.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 buying an additional 515 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Ibotta during the first quarter worth about $161,000. Goldman Sachs Group Inc. increased its position in Ibotta by 16.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 122,514 shares of the company's stock valued at $5,170,000 after acquiring an additional 17,421 shares during the period. Legal & General Group Plc increased its position in Ibotta by 43.5% in the 2nd quarter. Legal & General Group Plc now owns 12,349 shares of the company's stock valued at $452,000 after acquiring an additional 3,746 shares during the period. Finally, Norges Bank purchased a new stake in Ibotta during the 2nd quarter valued at approximately $781,000.

Ibotta Trading Up 0.6%

IBTA stock opened at $36.42 on Wednesday. The stock has a market cap of $735.68 million, a P/E ratio of -77.49 and a beta of -0.44. Ibotta has a twelve month low of $19.10 and a twelve month high of $40.49. The company's 50 day moving average is $31.58 and its two-hundred day moving average is $29.47.

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.

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