Hsbc Holdings PLC Has $22.21 Million Stock Holdings in Ibotta, Inc. $IBTA

Hsbc Holdings PLC raised its stake in shares of Ibotta, Inc. (NYSE:IBTA) by 29.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 993,977 shares of the company’s stock after buying an additional 226,021 shares during the period. Hsbc Holdings PLC owned about 4.69% of Ibotta worth $22,210,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its stake in shares of Ibotta by 187.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock worth $41,000 after acquiring an additional 1,185 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Ibotta by 47,920.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock valued at $55,000 after purchasing an additional 2,396 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Ibotta during the second quarter valued at $66,000. Tower Research Capital LLC TRC grew its stake in Ibotta by 144.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,851 shares of the company’s stock valued at $141,000 after purchasing an additional 2,274 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in Ibotta in the 1st quarter worth about $161,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Evercore set a $40.00 price objective on Ibotta in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a research report on Friday, March 27th. Wells Fargo & Company raised their price objective 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. Finally, Zacks Research raised shares of Ibotta from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. 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’s stock. Based on data from MarketBeat, Ibotta presently has a consensus rating of “Reduce” and an average target price of $33.00.

Ibotta Price Performance

NYSE IBTA opened at $31.68 on Thursday. Ibotta, Inc. has a fifty-two week low of $19.10 and a fifty-two week high of $41.14. The stock’s 50-day moving average is $33.44 and its two-hundred day moving average is $27.27. The firm has a market cap of $639.94 million, a P/E ratio of -93.18 and a beta of -0.59.

Ibotta (NYSE:IBTA) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $82.48 million during the quarter. During the same quarter last year, the company posted $0.02 EPS. The business’s revenue was down 2.5% compared to the same quarter last year. On average, equities analysts expect that Ibotta, Inc. will post 0.24 EPS for the current year.

Ibotta declared that its Board of Directors has approved a stock repurchase program on Wednesday, March 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 21.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, CTO Luke Roy Swanson sold 5,940 shares of Ibotta stock in a transaction that occurred on 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 $16,352,935.12. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 business’s stock in a transaction on Monday, May 18th. The stock was 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 $1,059,019.91. The trade was a 37.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 107,701 shares of company stock valued at $3,419,255 in the last ninety days. Company insiders own 20.92% of the company’s stock.

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.