JPMorgan Chase & Co. Sells 82,786 Shares of Ibotta, Inc. $IBTA

JPMorgan Chase & Co. cut its stake in Ibotta, Inc. (NYSE:IBTA) by 12.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 572,090 shares of the company’s stock after selling 82,786 shares during the period. JPMorgan Chase & Co.’s holdings in Ibotta were worth $15,933,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 purchasing an additional 515 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Ibotta in the first quarter worth $161,000. Goldman Sachs Group Inc. lifted its stake in shares of Ibotta by 16.6% during 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. CWM LLC boosted its holdings in Ibotta by 225.2% in the 2nd quarter. CWM LLC now owns 943 shares of the company’s stock worth $35,000 after buying an additional 653 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Ibotta in the 2nd quarter worth $395,000.

Analysts Set New Price Targets

Several analysts recently issued reports on IBTA shares. Evercore cut their target price on Ibotta from $38.00 to $32.00 and set an “in-line” rating for the company in a research report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a report on Monday, December 29th. Bank of America dropped their price objective on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating for the company in a report on Thursday, November 13th. Wells Fargo & Company lifted their target price on Ibotta from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Finally, Wall Street Zen downgraded Ibotta from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Ibotta presently has an average rating of “Reduce” and an average target price of $33.14.

Ibotta Stock Up 2.6%

Ibotta stock opened at $25.59 on Wednesday. The company’s 50-day moving average price is $22.15 and its 200-day moving average price is $25.37. The company has a market cap of $542.76 million, a PE ratio of 232.66 and a beta of -1.20. Ibotta, Inc. has a twelve month low of $19.10 and a twelve month high of $62.74.

Ibotta (NYSE:IBTA) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). Ibotta had a return on equity of 1.04% and a net margin of 1.04%.The company had revenue of $88.53 million during the quarter. During the same period in the prior year, the company posted $0.67 EPS. The company’s quarterly revenue was down 10.0% compared to the same quarter last year.

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.