Amova Asset Management Americas Inc. Has $35.60 Million Stock Position in Ibotta, Inc. $IBTA

Amova Asset Management Americas Inc. increased its stake in shares of Ibotta, Inc. (NYSE:IBTA) by 15.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,279,652 shares of the company’s stock after purchasing an additional 172,314 shares during the period. Amova Asset Management Americas Inc. owned approximately 0.05% of Ibotta worth $35,600,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ibotta by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock worth $396,000 after purchasing an additional 515 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Ibotta in the 1st quarter valued at $161,000. Goldman Sachs Group Inc. raised its stake in Ibotta by 16.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 122,514 shares of the company’s stock worth $5,170,000 after buying an additional 17,421 shares during the period. CWM LLC lifted its holdings in Ibotta by 225.2% during the second quarter. CWM LLC now owns 943 shares of the company’s stock worth $35,000 after acquiring an additional 653 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Ibotta in the second quarter valued at about $395,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IBTA shares. Evercore dropped their price target on Ibotta from $38.00 to $32.00 and set an “in-line” rating on the stock in a research report on Thursday, November 13th. Bank of America reduced their target price on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating for the company in a research note on Thursday, November 13th. The Goldman Sachs Group lowered their target price on Ibotta from $26.00 to $23.00 and set a “sell” rating for the company in a report on Thursday, November 13th. Wells Fargo & Company boosted their price target on Ibotta from $30.00 to $34.00 and gave the company 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 report on Saturday, February 28th. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $33.14.

Ibotta Trading Down 6.6%

NYSE IBTA opened at $23.95 on Thursday. Ibotta, Inc. has a 12 month low of $19.10 and a 12 month high of $62.74. The stock has a 50 day moving average of $22.18 and a 200-day moving average of $25.36. The company has a market cap of $507.98 million, a PE ratio of 217.75 and a beta of -1.20.

Ibotta (NYSE:IBTA) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.04) earnings per share (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 firm had revenue of $88.53 million for the quarter. During the same quarter in the prior year, the business earned $0.67 earnings per share. The company’s quarterly revenue was down 10.0% on a year-over-year basis.

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.