Amova Asset Management Americas Inc. Has $7.74 Million Stock Holdings in Ibotta, Inc. $IBTA

Amova Asset Management Americas Inc. decreased its holdings in Ibotta, Inc. (NYSE:IBTA) by 73.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 341,265 shares of the company’s stock after selling 938,387 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Ibotta were worth $7,740,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in IBTA. Deutsche Bank AG raised its stake in shares of Ibotta by 3,449.8% in the 4th quarter. Deutsche Bank AG now owns 369,890 shares of the company’s stock valued at $8,408,000 after buying an additional 359,470 shares in the last quarter. Citigroup Inc. raised its stake in shares of Ibotta by 90.2% in the 3rd quarter. Citigroup Inc. now owns 641,337 shares of the company’s stock valued at $17,861,000 after buying an additional 304,183 shares in the last quarter. ARK Investment Management LLC raised its stake in shares of Ibotta by 39.3% in the 3rd quarter. ARK Investment Management LLC now owns 907,386 shares of the company’s stock valued at $25,271,000 after buying an additional 255,899 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Ibotta by 17.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock worth $43,749,000 after purchasing an additional 232,027 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Ibotta during the 2nd quarter worth about $8,397,000.

Insider Activity

In other news, CTO Luke Roy Swanson sold 5,940 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $32.98, for a total value of $195,901.20. Following the transaction, the chief technology officer owned 495,844 shares of the company’s stock, valued at approximately $16,352,935.12. This trade represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas D. Lehrman sold 30,119 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $30.78, for a total transaction of $927,062.82. Following the completion of the transaction, the director directly owned 40,744 shares in the company, valued at $1,254,100.32. This trade represents a 42.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 107,701 shares of company stock worth $3,419,255 in the last ninety days. Insiders own 20.92% of the company’s stock.

Analysts Set New Price Targets

IBTA has been the subject of a number of recent analyst reports. Evercore set a $40.00 target price on shares of Ibotta in a research report on Thursday, May 7th. Zacks Research cut shares of Ibotta from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Needham & Company LLC increased their target price on shares of Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Wells Fargo & Company increased their price objective on shares of Ibotta from $34.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Ibotta has an average rating of “Reduce” and an average price target of $33.00.

Ibotta Stock Up 3.7%

Shares of NYSE:IBTA opened at $33.27 on Wednesday. Ibotta, Inc. has a 12 month low of $19.10 and a 12 month high of $49.99. The company’s 50-day moving average price is $33.51 and its two-hundred day moving average price is $26.67. The firm has a market cap of $672.05 million, a P/E ratio of -97.85 and a beta of -0.59.

Ibotta (NYSE:IBTA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.45. The firm had revenue of $82.48 million for the quarter. Ibotta had a negative net margin of 2.15% and a negative return on equity of 2.39%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 EPS. As a group, equities analysts predict that Ibotta, Inc. will post 0.24 earnings per share for the current fiscal year.

Ibotta declared that its board has authorized a stock repurchase program on Wednesday, March 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 21.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.