Ibotta (NYSE:IBTA) Stock Price Down 4.8% on Insider Selling

Ibotta, Inc. (NYSE:IBTA)’s share price fell 4.8% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $30.80 and last traded at $31.81. 20,895 shares were traded during trading, a decline of 93% from the average session volume of 285,468 shares. The stock had previously closed at $33.40.

Specifically, Director Thomas D. Lehrman sold 19,788 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $32.11, for a total transaction of $635,392.68. Following the sale, the director owned 32,981 shares of the company’s stock, valued at $1,059,019.91. The trade was a 37.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas D. Lehrman sold 30,119 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $30.78, for a total value of $927,062.82. Following the completion of the transaction, the director directly owned 40,744 shares of the company’s stock, valued at $1,254,100.32. The trade was a 42.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In related news, Director Thomas D. Lehrman sold 26,000 shares of Ibotta stock in a transaction on Friday, May 15th. The stock was sold at an average price of $30.79, for a total transaction of $800,540.00. Following the completion of the transaction, the director directly owned 62,750 shares of the company’s stock, valued at approximately $1,932,072.50. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IBTA shares. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research report on Friday, March 27th. Wells Fargo & Company boosted their price objective on shares of Ibotta from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Wall Street Zen raised shares of Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research cut shares of Ibotta from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Finally, Needham & Company LLC upped their price target on shares of Ibotta from $33.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $33.00.

Ibotta Price Performance

The firm has a market capitalization of $648.02 million, a PE ratio of -94.35 and a beta of -0.61. The company has a 50-day moving average price of $31.30 and a 200-day moving average price of $26.18.

Ibotta (NYSE:IBTA) last announced its earnings results on Wednesday, May 6th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.45. The firm had revenue of $82.48 million during the quarter. Ibotta had a negative net margin of 2.15% and a negative return on equity of 2.39%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 EPS. On average, research analysts predict that Ibotta, Inc. will post -0.29 earnings per share for the current fiscal year.

Ibotta announced that its board has approved a stock buyback program on Wednesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 21.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Ibotta

Several hedge funds have recently made changes to their positions in IBTA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Ibotta in the 1st quarter worth $161,000. Goldman Sachs Group Inc. boosted its holdings in Ibotta by 16.6% in the first quarter. Goldman Sachs Group Inc. now owns 122,514 shares of the company’s stock valued at $5,170,000 after acquiring an additional 17,421 shares during the last quarter. Legal & General Group Plc grew its position in Ibotta by 43.5% during the second quarter. Legal & General Group Plc now owns 12,349 shares of the company’s stock valued at $452,000 after acquiring an additional 3,746 shares during the period. Finally, Norges Bank acquired a new stake in Ibotta during the second quarter worth about $781,000.

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.