Ibotta, Inc. $IBTA is Notable Capital Management L.L.C.’s 2nd Largest Position

Notable Capital Management L.L.C. lowered its stake in shares of Ibotta, Inc. (NYSE:IBTA) by 9.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 367,032 shares of the company’s stock after selling 38,750 shares during the quarter. Ibotta accounts for about 13.0% of Notable Capital Management L.L.C.’s portfolio, making the stock its 2nd largest position. Notable Capital Management L.L.C. owned 1.57% of Ibotta worth $10,222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CWM LLC grew its stake in Ibotta by 50.8% during the 3rd quarter. CWM LLC now owns 1,422 shares of the company’s stock worth $40,000 after purchasing an additional 479 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Ibotta in the 2nd quarter valued at about $66,000. Jones Financial Companies Lllp acquired a new position in shares of Ibotta during the first quarter worth about $161,000. Tower Research Capital LLC TRC increased its stake in shares of Ibotta by 144.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,851 shares of the company’s stock worth $141,000 after buying an additional 2,274 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ibotta during the second quarter worth approximately $216,000.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IBTA shares. Wells Fargo & Company lifted their price target on shares of Ibotta from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 26th. Wall Street Zen lowered shares of Ibotta from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $33.14.

Ibotta Stock Performance

NYSE:IBTA opened at $24.68 on Tuesday. Ibotta, Inc. has a 1 year low of $19.10 and a 1 year high of $62.74. The stock has a fifty day moving average price of $22.29 and a two-hundred day moving average price of $25.17. The stock has a market capitalization of $523.46 million, a price-to-earnings ratio of 224.38 and a beta of -1.22.

Ibotta (NYSE:IBTA) last issued its earnings results on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.30. The company had revenue of $88.53 million for the quarter. Ibotta had a net margin of 1.04% and a return on equity of 1.04%. Ibotta’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share.

Ibotta declared that its Board of Directors has authorized a share repurchase plan on Wednesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 21.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Ibotta news, insider Marisa Daspit sold 2,956 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $24.06, for a total value of $71,121.36. Following the completion of the transaction, the insider directly owned 127,597 shares of the company’s stock, valued at approximately $3,069,983.82. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 16.08% of the company’s stock.

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.