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

Ibotta, Inc. (NYSE:IBTA - Get Free Report) major shareholder Jermoluk Founders Fund I. Clark sold 5,000 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $38.49, for a total value of $192,450.00. Following the transaction, the insider now owns 450,241 shares in the company, valued at approximately $17,329,776.09. This represents a 1.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major 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 4.4%

IBTA opened at $36.83 on Friday. The company has a market cap of $932.17 million, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 3.21 and a beta of -0.84. The firm's 50-day moving average price is $47.21 and its 200-day moving average price is $57.38. Ibotta, Inc. has a 52-week low of $31.40 and a 52-week high of $79.80.

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

Ibotta declared that its Board of Directors has authorized a share repurchase plan on Wednesday, March 12th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits 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 believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IBTA shares. JMP Securities reissued a "market outperform" rating and set a $58.00 price objective on shares of Ibotta in a report on Thursday, May 15th. UBS Group boosted their price target on Ibotta from $42.00 to $55.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. The Goldman Sachs Group upped their price objective on Ibotta from $50.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Evercore ISI reiterated an "outperform" rating on shares of Ibotta in a research note on Thursday, May 15th. Finally, Wells Fargo & Company increased their price target on shares of Ibotta from $52.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $61.60.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Southpoint Capital Advisors LP increased its holdings in Ibotta by 48.2% in the 1st quarter. Southpoint Capital Advisors LP now owns 1,536,500 shares of the company's stock worth $64,840,000 after buying an additional 499,556 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in shares of Ibotta by 68.8% in 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. increased its stake in shares of Ibotta by 67.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,043,758 shares of the company's stock worth $44,047,000 after acquiring an additional 419,516 shares during the period. ARK Investment Management LLC raised its holdings in shares of Ibotta by 299.8% during the first quarter. ARK Investment Management LLC now owns 704,308 shares of the company's stock worth $29,722,000 after purchasing an additional 528,147 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Ibotta by 2,500.8% during the first quarter. Citigroup Inc. now owns 334,460 shares of the company's stock valued at $14,114,000 after purchasing an additional 321,600 shares during the period.

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.