Jermoluk Founders Fund Clark Sells 500,000 Shares of Ibotta (NYSE:IBTA) Stock

Ibotta, Inc. (NYSE:IBTA) major shareholder Jermoluk Founders Fund Clark sold 500,000 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $30.15, for a total value of $15,075,000.00. Following the completion of the sale, the insider owned 3,341,308 shares in the company, valued at $100,740,436.20. The trade was a 13.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Ibotta Trading Up 1.6%

Shares of IBTA stock opened at $31.69 on Friday. The stock has a 50 day moving average of $33.07 and a 200 day moving average of $28.17. The stock has a market cap of $640.14 million, a P/E ratio of -93.21 and a beta of -0.59. Ibotta, Inc. has a twelve month low of $19.10 and a twelve month high of $41.14.

Ibotta (NYSE:IBTA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.45. The business had revenue of $82.48 million for the quarter. Ibotta had a negative return on equity of 2.39% and a negative net margin of 2.15%.The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.02 EPS. On average, research analysts predict that Ibotta, Inc. will post 0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ibotta

Hedge funds and other institutional investors have recently made changes to their positions in the company. Essential Partners LLC boosted its stake in shares of Ibotta by 40,800.0% in the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after acquiring an additional 816 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Ibotta in the 1st quarter valued at $39,000. New York State Teachers Retirement System purchased a new position in Ibotta in the 1st quarter valued at $39,000. Caitong International Asset Management Co. Ltd boosted its stake in Ibotta by 187.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock worth $41,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Ibotta by 47,920.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock worth $55,000 after purchasing an additional 2,396 shares during the last quarter.

Analyst Ratings Changes

IBTA has been the topic of several analyst reports. Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a research note on Wednesday, June 24th. The Goldman Sachs Group dropped their target price on Ibotta from $32.00 to $28.00 and set a “sell” rating on the stock in a research report on Wednesday. Wells Fargo & Company lifted their price target on Ibotta from $34.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Finally, Evercore set a $40.00 price target on Ibotta in a research report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Ibotta has an average rating of “Reduce” and a consensus target price of $33.83.

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.