Hsbc Holdings PLC Acquires 226,021 Shares of Ibotta, Inc. $IBTA

Hsbc Holdings PLC boosted its holdings in shares of Ibotta, Inc. (NYSE:IBTA) by 29.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 993,977 shares of the company’s stock after purchasing an additional 226,021 shares during the quarter. Hsbc Holdings PLC’s holdings in Ibotta were worth $22,210,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its position in Ibotta by 187.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock worth $41,000 after acquiring an additional 1,185 shares during the period. Farther Finance Advisors LLC grew its position in Ibotta by 47,920.0% during 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 in the last quarter. Quantbot Technologies LP bought a new position in Ibotta during the second quarter valued at about $66,000. Tower Research Capital LLC TRC lifted its position in shares of Ibotta by 144.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,851 shares of the company’s stock worth $141,000 after acquiring an additional 2,274 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in shares of Ibotta in the first quarter valued at $161,000.

Insiders Place Their Bets

In related news, Director Thomas D. Lehrman sold 30,119 shares of Ibotta stock in a transaction dated Friday, May 15th. The stock was 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Luke Roy Swanson sold 5,940 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $32.98, for a total transaction of $195,901.20. Following the transaction, the chief technology officer owned 495,844 shares in the company, valued at approximately $16,352,935.12. This trade represents a 1.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 107,701 shares of company stock worth $3,419,255. Insiders own 20.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC raised their price objective on shares of Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wells Fargo & Company upped their price objective on Ibotta from $34.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a report on Friday, March 27th. Evercore set a $40.00 target price on Ibotta in a research report on Thursday, May 7th. Finally, Zacks Research raised Ibotta from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $33.00.

Ibotta Trading Up 2.8%

NYSE:IBTA opened at $31.68 on Thursday. The stock has a market capitalization of $639.94 million, a P/E ratio of -93.18 and a beta of -0.59. Ibotta, Inc. has a 1 year low of $19.10 and a 1 year high of $41.14. The firm has a 50 day moving average of $33.44 and a 200-day moving average of $27.27.

Ibotta (NYSE:IBTA) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $82.48 million for the quarter. During the same quarter last year, the company earned $0.02 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. As a group, analysts forecast that Ibotta, Inc. will post 0.24 EPS for the current fiscal year.

Ibotta declared that its Board of Directors has authorized a share buyback program on Wednesday, March 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 21.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.