Sumitomo Mitsui Trust Group Inc. Has $35.68 Million Holdings in Ibotta, Inc. $IBTA

Sumitomo Mitsui Trust Group Inc. lifted its position in Ibotta, Inc. (NYSE:IBTA) by 15.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,281,219 shares of the company’s stock after purchasing an additional 168,054 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 5.07% of Ibotta worth $35,682,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. CWM LLC raised its stake in shares of Ibotta by 225.2% in the 2nd quarter. CWM LLC now owns 943 shares of the company’s stock valued at $35,000 after buying an additional 653 shares in the last quarter. Private Wealth Asset Management LLC bought a new stake in Ibotta in the second quarter valued at about $37,000. Quantbot Technologies LP acquired a new position in Ibotta in the second quarter worth about $66,000. Jones Financial Companies Lllp bought a new position in Ibotta during the first quarter worth about $161,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Ibotta by 144.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,851 shares of the company’s stock valued at $141,000 after purchasing an additional 2,274 shares in the last quarter.

Ibotta Stock Performance

Shares of IBTA opened at $22.99 on Friday. The company has a market cap of $538.89 million, a price-to-earnings ratio of 9.50 and a beta of -0.89. The stock has a fifty day moving average price of $23.30 and a two-hundred day moving average price of $28.57. Ibotta, Inc. has a 52-week low of $20.60 and a 52-week high of $76.00.

Ibotta (NYSE:IBTA) last announced its earnings results on Wednesday, November 12th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.22. Ibotta had a return on equity of 20.94% and a net margin of 22.92%.The company had revenue of $83.26 million during the quarter. During the same quarter last year, the business posted $0.94 earnings per share. The business’s quarterly revenue was down 15.5% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IBTA. Bank of America dropped their target price on Ibotta from $24.00 to $22.00 and set an “underperform” rating for the company in a report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a research note on Monday, December 29th. The Goldman Sachs Group cut their price objective on Ibotta from $26.00 to $23.00 and set a “sell” rating for the company in a report on Thursday, November 13th. Finally, Evercore ISI lowered their target price on shares of Ibotta from $38.00 to $32.00 and set an “in-line” rating on the stock in a report on Thursday, November 13th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Ibotta has an average rating of “Reduce” and a consensus target price of $32.57.

Ibotta 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.