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 Friday, June 20th. The stock was sold at an average price of $38.49, for a total transaction of $192,450.00. Following the completion of the transaction, the insider now owns 450,241 shares in the company, valued at $17,329,776.09. This represents a 1.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Ibotta Stock Performance

Shares of Ibotta stock traded up $0.70 on Tuesday, reaching $38.53. 322,112 shares of the company were exchanged, compared to its average volume of 423,530. The firm has a market cap of $975.19 million, a price-to-earnings ratio of 26.03, a P/E/G ratio of 3.20 and a beta of -0.84. Ibotta, Inc. has a 1-year low of $31.40 and a 1-year high of $79.80. The company's 50-day moving average is $47.89 and its two-hundred day moving average is $57.86.

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

Ibotta declared that its Board of Directors has initiated a stock buyback program on Wednesday, March 12th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on IBTA shares. Wells Fargo & Company raised their price objective on Ibotta from $52.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. 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 upped their price objective on Ibotta from $42.00 to $55.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Needham & Company LLC lifted their target price on Ibotta from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Evercore ISI reissued an "outperform" rating on shares of Ibotta in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $61.60.

Hedge Funds Weigh In On Ibotta

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew its stake in shares of Ibotta by 6.6% in the first quarter. Rhumbline Advisers now owns 20,221 shares of the company's stock worth $853,000 after purchasing an additional 1,252 shares in the last quarter. Goldman Sachs Group Inc. grew 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 buying an additional 17,421 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Ibotta during the 1st quarter worth about $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 acquiring an additional 515 shares during the period. Finally, Southpoint Capital Advisors LP boosted its holdings in shares of Ibotta by 48.2% in the first quarter. Southpoint Capital Advisors LP now owns 1,536,500 shares of the company's stock valued at $64,840,000 after acquiring an additional 499,556 shares in the last quarter.

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.

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