BNP Paribas Financial Markets Has $7.39 Million Position in Ibotta, Inc. $IBTA

BNP Paribas Financial Markets lessened its stake in shares of Ibotta, Inc. (NYSE:IBTA) by 20.3% during the fourth quarter, Holdings Channel reports. The fund owned 325,046 shares of the company’s stock after selling 82,890 shares during the quarter. BNP Paribas Financial Markets’ holdings in Ibotta were worth $7,388,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IBTA. Farther Finance Advisors LLC lifted its position in shares of Ibotta by 47,920.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock valued at $55,000 after acquiring an additional 2,396 shares during the period. Quantbot Technologies LP acquired a new position in shares of Ibotta during the 2nd quarter valued at $66,000. Tower Research Capital LLC TRC lifted its position in shares of Ibotta by 144.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,851 shares of the company’s stock valued at $141,000 after acquiring an additional 2,274 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Ibotta during the 1st quarter valued at $161,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ibotta by 61.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,800 shares of the company’s stock valued at $189,000 after acquiring an additional 2,600 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IBTA shares. Wells Fargo & Company boosted their target price on shares of Ibotta from $34.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Evercore set a $40.00 target price on shares of Ibotta in a research report on Thursday, May 7th. Zacks Research downgraded shares of Ibotta from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a research note on Friday, March 27th. Finally, Needham & Company LLC raised their price objective on shares of Ibotta from $33.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Ibotta has an average rating of “Reduce” and an average target price of $33.00.

Ibotta Trading Up 3.7%

Ibotta stock opened at $33.27 on Wednesday. Ibotta, Inc. has a 1-year low of $19.10 and a 1-year high of $49.99. The firm has a market capitalization of $672.05 million, a price-to-earnings ratio of -97.85 and a beta of -0.59. The firm’s fifty day moving average price is $33.51 and its two-hundred day moving average price is $26.67.

Ibotta (NYSE:IBTA) last released 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 net margin of 2.15% and a negative return on equity of 2.39%. The firm had revenue of $82.48 million for the quarter. During the same period last year, the business posted $0.02 earnings per share. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. On average, research analysts forecast that Ibotta, Inc. will post 0.24 EPS for the current year.

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

Insider Activity

In other news, CTO Luke Roy Swanson sold 5,940 shares of the 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 completion of the sale, the chief technology officer owned 495,844 shares in the company, valued at $16,352,935.12. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas D. Lehrman sold 19,788 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $32.11, for a total transaction of $635,392.68. Following the completion of the sale, the director owned 32,981 shares of the company’s stock, valued at approximately $1,059,019.91. This represents a 37.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 107,701 shares of company stock valued at $3,419,255. 20.92% of the stock is currently owned by corporate insiders.

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.