Ibotta (NYSE:IBTA) Insider Sells $71,121.36 in Stock

Key Points

• Insider sale: Ibotta insider Marisa Daspit sold 2,956 shares on March 5 at an average price of $24.06 for a total of $71,121.36, trimming her stake by 2.26% to 127,597 shares (worth about $3.07M).
• Weak quarterly results and valuation: Ibotta reported Q4 EPS of ($0.04) vs. a ($0.01) consensus (a $0.03 miss) with revenue of $88.53M, down 10% YoY; the stock trades near $23.48 with a ~$498M market cap and a high P/E of 213.47, and carries a MarketBeat consensus rating of "Reduce."
• Despite analyst downgrades, several institutions increased positions—JPMorgan grew its stake to 654,876 shares (up 481.8%), HSBC raised holdings by 108.4%, and Citigroup and Sumitomo Mitsui also added shares, indicating notable institutional interest.

Ibotta, Inc. (NYSE:IBTA - Get Free Report) insider Marisa Daspit sold 2,956 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $24.06, for a total transaction of $71,121.36. Following the completion of the sale, the insider owned 127,597 shares in the company, valued at approximately $3,069,983.82. This trade represents a 2.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Ibotta Trading Up 0.3%

NYSE IBTA traded up $0.07 on Monday, hitting $23.48. 253,615 shares of the stock traded hands, compared to its average volume of 339,651. The stock has a 50-day moving average of $22.23 and a 200 day moving average of $25.30. Ibotta, Inc. has a twelve month low of $19.10 and a twelve month high of $62.74. The company has a market capitalization of $498.08 million, a P/E ratio of 213.47 and a beta of -1.20.

Ibotta (NYSE:IBTA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). Ibotta had a net margin of 1.04% and a return on equity of 1.04%. The firm had revenue of $88.53 million during the quarter. During the same period last year, the business earned $0.67 EPS. The company's revenue was down 10.0% on a year-over-year basis.

Hedge Funds Weigh In On Ibotta

Several institutional investors and hedge funds have recently modified their holdings of IBTA. Hsbc Holdings PLC lifted its holdings in Ibotta by 108.4% in the 2nd quarter. Hsbc Holdings PLC now owns 96,549 shares of the company's stock worth $3,533,000 after purchasing an additional 50,214 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Ibotta during the 2nd quarter worth $2,711,000. JPMorgan Chase & Co. grew its position in shares of Ibotta by 481.8% in the second quarter. JPMorgan Chase & Co. now owns 654,876 shares of the company's stock valued at $23,968,000 after purchasing an additional 542,313 shares during the last quarter. Citigroup Inc. increased its stake in shares of Ibotta by 90.2% in the third quarter. Citigroup Inc. now owns 641,337 shares of the company's stock worth $17,861,000 after purchasing an additional 304,183 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Ibotta by 15.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,281,219 shares of the company's stock worth $35,682,000 after purchasing an additional 168,054 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Ibotta from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. The Goldman Sachs Group lowered their price target on Ibotta from $26.00 to $23.00 and set a "sell" rating on the stock in a report on Thursday, November 13th. Bank of America cut their price objective on Ibotta from $24.00 to $22.00 and set an "underperform" rating for the company in a report on Thursday, November 13th. Weiss Ratings restated a "sell (d)" rating on shares of Ibotta in a report on Monday, December 29th. Finally, Wells Fargo & Company lifted their price target on Ibotta from $30.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 26th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $33.14.

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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