Ibotta (NYSE:IBTA) Stock Price Down 8.3% – Time to Sell?

Ibotta, Inc. (NYSE:IBTA)’s stock price was down 8.3% on Tuesday . The company traded as low as $29.02 and last traded at $29.62. 105,545 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 251,954 shares. The stock had previously closed at $32.30.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on IBTA shares. Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Needham & Company LLC upped their target price on Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Zacks Research upgraded Ibotta from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research note on Wednesday, June 24th. Finally, Evercore set a $40.00 target price on Ibotta in a research note on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $33.83.

Ibotta Stock Down 8.5%

The company’s 50 day moving average price is $32.46 and its 200 day moving average price is $28.62. The firm has a market capitalization of $597.31 million, a price-to-earnings ratio of -86.97 and a beta of -0.59.

Ibotta (NYSE:IBTA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 earnings per share for the quarter, beating 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 period in the prior year, the company posted $0.02 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, analysts expect that Ibotta, Inc. will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In other Ibotta news, CTO Luke Roy Swanson sold 5,940 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $35.14, for a total transaction of $208,731.60. Following the sale, the chief technology officer directly owned 489,904 shares of the company’s stock, valued at approximately $17,215,226.56. This trade represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas D. Lehrman sold 30,119 shares of Ibotta stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $30.78, for a total value of $927,062.82. Following the transaction, the director owned 40,744 shares of the company’s stock, valued at $1,254,100.32. The trade was a 42.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 613,641 shares of company stock valued at $18,702,987 over the last 90 days. Insiders own 20.92% of the company’s stock.

Institutional Trading of Ibotta

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Essential Partners LLC lifted its holdings in Ibotta by 40,800.0% in the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock valued at $25,000 after acquiring an additional 816 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Ibotta during the 1st quarter valued at approximately $39,000. New York State Teachers Retirement System acquired a new position in shares of Ibotta in the 1st quarter valued at $39,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Ibotta by 187.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock valued at $41,000 after purchasing an additional 1,185 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings 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.

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.