Ibotta (NYSE:IBTA) Major Shareholder Jermoluk Founders Fund Clark Sells 500,000 Shares

Ibotta, Inc. (NYSE:IBTA) major shareholder Jermoluk Founders Fund Clark sold 500,000 shares of Ibotta stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $30.15, for a total value of $15,075,000.00. Following the sale, the insider directly owned 3,341,308 shares in the company, valued at approximately $100,740,436.20. This trade represents a 13.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Ibotta Trading Down 6.0%

Shares of NYSE IBTA opened at $31.45 on Thursday. Ibotta, Inc. has a 12-month low of $19.10 and a 12-month high of $41.14. The company has a market cap of $635.29 million, a PE ratio of -92.50 and a beta of -0.59. The stock has a 50 day simple moving average of $33.14 and a 200-day simple moving average of $28.10.

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. Ibotta had a negative return on equity of 2.39% and a negative net margin of 2.15%.The firm had revenue of $82.48 million for the quarter. During the same period in the previous year, the firm earned $0.02 EPS. The firm’s revenue was down 2.5% on a year-over-year basis. Sell-side analysts forecast that Ibotta, Inc. will post 0.24 earnings per share for the current fiscal year.

Ibotta declared that its Board of Directors has approved a share repurchase plan on Wednesday, March 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 21.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Ibotta

A number of institutional investors and hedge funds have recently modified their holdings of IBTA. Hsbc Holdings PLC raised its holdings in Ibotta by 29.4% during the 4th quarter. Hsbc Holdings PLC now owns 993,977 shares of the company’s stock worth $22,210,000 after buying an additional 226,021 shares during the period. FourThought Financial Partners LLC acquired a new position in shares of Ibotta in the fourth quarter worth about $526,000. Farther Finance Advisors LLC boosted its holdings in shares of Ibotta by 47,920.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock worth $55,000 after buying an additional 2,396 shares during the period. Sei Investments Co. purchased a new position in shares of Ibotta in the first quarter worth approximately $344,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Ibotta by 17.7% during the first quarter. Renaissance Technologies LLC now owns 239,300 shares of the company’s stock valued at $7,172,000 after acquiring an additional 35,992 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IBTA. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a research report on Wednesday, June 24th. The Goldman Sachs Group reduced their price objective on shares of Ibotta from $32.00 to $28.00 and set a “sell” rating for the company in a research report on Wednesday. Wells Fargo & Company lifted their price objective on shares of Ibotta from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Needham & Company LLC boosted their target price on shares of Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Evercore set a $40.00 target price on shares of Ibotta in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $33.83.

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.