Thomas Lehrman Sells 8,154 Shares of Ibotta (NYSE:IBTA) Stock

Key Points

• Director Thomas Lehrman sold 8,154 Ibotta shares for approximately $294,196 at an average price of $36.08, reducing his direct stake by 26.94% to 22,115 shares.
• Ibotta shares recently traded at $38.11, near their 12-month high of $40.49, with the stock’s market capitalization at about $769.8 million.
• Analyst sentiment remains cautious: Ibotta has a consensus “Reduce” rating and an average price target of $36.50, although targets range from $32 to $45.

Ibotta, Inc. (NYSE:IBTA - Get Free Report) Director Thomas Lehrman sold 8,154 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $36.08, for a total value of $294,196.32. Following the transaction, the director directly owned 22,115 shares of the company's stock, valued at $797,909.20. The trade was a 26.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ibotta Stock Performance

Shares of IBTA traded up $2.26 during trading hours on Thursday, hitting $38.11. 326,340 shares of the stock were exchanged, compared to its average volume of 263,992. Ibotta, Inc. has a 12-month low of $19.10 and a 12-month high of $40.49. The company has a market cap of $769.82 million, a price-to-earnings ratio of -81.08 and a beta of -0.44. The stock's 50-day moving average price is $31.65 and its two-hundred day moving average price is $29.55.

Analysts Set New Price Targets

A number of research firms have commented on IBTA. The Goldman Sachs Group increased their price objective on shares of Ibotta from $28.00 to $32.00 and gave the company a "sell" rating in a report on Tuesday, August 4th. UBS Group raised their target price on Ibotta from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Zacks Research upgraded shares of Ibotta from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Needham & Company LLC restated a "buy" rating and set a $45.00 target price on shares of Ibotta in a report on Tuesday, August 4th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Ibotta in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $36.50.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ibotta by 5.8% during the 1st 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. Quantbot Technologies LP raised its stake in Ibotta by 34.6% during the 3rd quarter. Quantbot Technologies LP now owns 2,420 shares of the company's stock valued at $67,000 after acquiring an additional 622 shares in the last quarter. Essential Partners LLC lifted its stake in shares of Ibotta by 40,800.0% in the 1st quarter. Essential Partners LLC now owns 818 shares of the company's stock worth $25,000 after acquiring an additional 816 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Ibotta by 5.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,769 shares of the company's stock valued at $404,000 after purchasing an additional 855 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Ibotta by 9.0% during the third quarter. Legal & General Group Plc now owns 13,461 shares of the company's stock worth $375,000 after acquiring an additional 1,112 shares during the period.

About Ibotta

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source