Edgestream Partners L.P. Buys Shares of 74,061 Ibotta, Inc. $IBTA

Edgestream Partners L.P. purchased a new stake in shares of Ibotta, Inc. (NYSE:IBTA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 74,061 shares of the company’s stock, valued at approximately $2,711,000. Edgestream Partners L.P. owned 0.29% of Ibotta as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in shares of Ibotta by 481.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 654,876 shares of the company’s stock worth $23,968,000 after purchasing an additional 542,313 shares during the period. Southpoint Capital Advisors LP increased its holdings in Ibotta by 48.2% during the first quarter. Southpoint Capital Advisors LP now owns 1,536,500 shares of the company’s stock valued at $64,840,000 after buying an additional 499,556 shares during the last quarter. Citigroup Inc. raised its position in Ibotta by 2,500.8% in the first quarter. Citigroup Inc. now owns 334,460 shares of the company’s stock worth $14,114,000 after acquiring an additional 321,600 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Ibotta by 6.6% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,113,165 shares of the company’s stock worth $40,742,000 after acquiring an additional 69,407 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Ibotta during the 1st quarter valued at $2,340,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JMP Securities reaffirmed a “market perform” rating on shares of Ibotta in a report on Thursday, August 14th. UBS Group decreased their price objective on Ibotta from $55.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $30.00 price objective (down from $60.00) on shares of Ibotta in a research report on Thursday, August 14th. The Goldman Sachs Group reduced their target price on shares of Ibotta from $26.00 to $23.00 and set a “sell” rating for the company in a report on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research note on Monday. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $32.57.

Ibotta Stock Down 1.1%

NYSE IBTA opened at $23.88 on Friday. Ibotta, Inc. has a twelve month low of $22.00 and a twelve month high of $76.99. The business has a 50-day moving average price of $28.71 and a 200-day moving average price of $33.56. The firm has a market cap of $559.75 million, a price-to-earnings ratio of 9.87 and a beta of -0.90.

Ibotta (NYSE:IBTA) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.22. Ibotta had a return on equity of 20.94% and a net margin of 22.92%.The company had revenue of $83.26 million for the quarter. During the same period in the prior year, the firm posted $0.94 earnings per share. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis.

About Ibotta

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.