10,321 Shares in Ibotta, Inc. $IBTA Acquired by Walleye Capital LLC

Walleye Capital LLC purchased a new position in shares of Ibotta, Inc. (NYSE:IBTA) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,321 shares of the company’s stock, valued at approximately $436,000.

Several other large investors have also recently made changes to their positions in the company. Hsbc Holdings PLC purchased a new stake in shares of Ibotta during the first quarter worth approximately $1,946,000. American Century Companies Inc. increased its position in shares of Ibotta by 26.5% during the first quarter. American Century Companies Inc. now owns 54,326 shares of the company’s stock worth $2,293,000 after purchasing an additional 11,385 shares in the last quarter. Nuveen LLC purchased a new stake in Ibotta in the 1st quarter valued at $2,340,000. Invesco Ltd. grew its holdings in Ibotta by 53.6% in the 1st quarter. Invesco Ltd. now owns 7,962 shares of the company’s stock valued at $336,000 after buying an additional 2,780 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in Ibotta by 2,500.8% in the 1st quarter. Citigroup Inc. now owns 334,460 shares of the company’s stock valued at $14,114,000 after buying an additional 321,600 shares in the last quarter.

Insiders Place Their Bets

In other news, CMO Richard I. Donahue sold 85,289 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $43.09, for a total transaction of $3,675,103.01. Following the completion of the transaction, the chief marketing officer directly owned 199,773 shares in the company, valued at approximately $8,608,218.57. This represents a 29.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Jermoluk Founders Fund I. Clark sold 1,578,502 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $35.00, for a total value of $55,247,570.00. Following the transaction, the insider directly owned 3,841,308 shares in the company, valued at approximately $134,445,780. The trade was a 29.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,127,669 shares of company stock valued at $75,426,281. Company insiders own 16.08% of the company’s stock.

Ibotta Trading Up 0.8%

NYSE IBTA opened at $27.16 on Wednesday. The stock has a market cap of $686.06 million, a PE ratio of 9.43, a P/E/G ratio of 21.55 and a beta of -1.31. Ibotta, Inc. has a twelve month low of $22.50 and a twelve month high of $79.80. The stock has a fifty day simple moving average of $33.67 and a 200-day simple moving average of $44.47.

Ibotta declared that its board has initiated a stock buyback program on Monday, June 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 8.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on IBTA shares. Citizens Jmp cut Ibotta from an “outperform” rating to a “market perform” rating in a report on Thursday, August 14th. Bank of America restated an “underperform” rating and issued a $24.00 target price (down from $57.00) on shares of Ibotta in a report on Thursday, August 14th. JMP Securities restated a “market perform” rating on shares of Ibotta in a report on Thursday, August 14th. Needham & Company LLC dropped their target price on Ibotta from $70.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, August 14th. Finally, Wall Street Zen cut Ibotta from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ibotta currently has an average rating of “Hold” and an average target price of $34.71.

Ibotta Profile

Ibotta’s mission is to Make Every Purchase Rewarding. Our technology allows CPG brands to deliver digital promotions to over 200 million consumers through a single, convenient network called the Ibotta Performance Network (IPN). We are pioneers in success-based marketing: we only get paid when our client’s promotion results in a sale, not when a consumer merely views or clicks on the promotion.