Jermoluk Founders Fund I. Clark Sells 5,000 Shares of Ibotta, Inc. (NYSE:IBTA) Stock

Ibotta, Inc. (NYSE:IBTA - Get Free Report) major shareholder Jermoluk Founders Fund I. Clark sold 5,000 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $46.90, for a total transaction of $234,500.00. Following the completion of the transaction, the insider now owns 490,241 shares of the company's stock, valued at approximately $22,992,302.90. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Ibotta Stock Down 4.9%

Shares of Ibotta stock traded down $2.23 during trading on Thursday, hitting $42.92. 339,041 shares of the company were exchanged, compared to its average volume of 425,905. Ibotta, Inc. has a fifty-two week low of $31.40 and a fifty-two week high of $79.80. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 29.00 and a beta of -0.84. The firm has a 50 day moving average price of $48.75 and a 200 day moving average price of $58.64.

Ibotta (NYSE:IBTA - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $84.57 million during the quarter, compared to analysts' expectations of $81.70 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm's revenue was up 2.8% on a year-over-year basis.

Ibotta declared that its board has approved a stock repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IBTA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ibotta by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company's stock worth $396,000 after buying an additional 515 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Ibotta in the 1st quarter worth about $25,000. Deutsche Bank AG boosted its holdings in shares of Ibotta by 6.9% in the first quarter. Deutsche Bank AG now owns 11,030 shares of the company's stock valued at $465,000 after acquiring an additional 713 shares in the last quarter. Rhumbline Advisers boosted its holdings in Ibotta by 6.6% during the first quarter. Rhumbline Advisers now owns 20,221 shares of the company's stock worth $853,000 after buying an additional 1,252 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in Ibotta by 58.1% in the first quarter. New York State Common Retirement Fund now owns 4,900 shares of the company's stock worth $207,000 after buying an additional 1,800 shares during the last quarter.

Analyst Ratings Changes

IBTA has been the subject of a number of analyst reports. Wells Fargo & Company boosted their target price on shares of Ibotta from $52.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. The Goldman Sachs Group raised their price target on Ibotta from $50.00 to $65.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Evercore ISI reissued an "outperform" rating on shares of Ibotta in a report on Thursday, May 15th. JMP Securities reaffirmed a "market outperform" rating and issued a $58.00 price objective on shares of Ibotta in a report on Thursday, May 15th. Finally, Needham & Company LLC lifted their price target on shares of Ibotta from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.60.

Ibotta Company 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.