Citigroup Inc. Purchases 304,183 Shares of Ibotta, Inc. $IBTA

Citigroup Inc. raised its position in shares of Ibotta, Inc. (NYSE:IBTA) by 90.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 641,337 shares of the company’s stock after purchasing an additional 304,183 shares during the period. Citigroup Inc. owned approximately 2.54% of Ibotta worth $17,861,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBTA. Rhumbline Advisers raised its holdings in shares of Ibotta by 2.0% during the 3rd quarter. Rhumbline Advisers now owns 19,256 shares of the company’s stock valued at $536,000 after buying an additional 380 shares in the last quarter. CWM LLC grew its position in Ibotta by 50.8% during the third quarter. CWM LLC now owns 1,422 shares of the company’s stock valued at $40,000 after acquiring an additional 479 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Ibotta by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock worth $396,000 after acquiring an additional 515 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Ibotta in the 2nd quarter valued at $66,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Ibotta by 144.2% in the 2nd 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.

Ibotta Stock Performance

NYSE IBTA opened at $24.90 on Friday. The stock has a market cap of $583.78 million, a P/E ratio of 226.38 and a beta of -0.88. Ibotta, Inc. has a fifty-two week low of $19.10 and a fifty-two week high of $62.74. The stock has a 50 day simple moving average of $22.01 and a two-hundred day simple moving average of $25.47.

Ibotta (NYSE:IBTA) last announced its earnings results on Wednesday, February 25th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). Ibotta had a net margin of 1.04% and a return on equity of 0.99%. The business had revenue of $88.53 million for the quarter. During the same period in the previous year, the company posted $0.67 EPS. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Evercore lowered their price target on shares of Ibotta from $38.00 to $32.00 and set an “in-line” rating for the company in a research note on Thursday, November 13th. Wall Street Zen cut Ibotta from a “hold” rating to a “sell” rating in a report on Saturday. Wells Fargo & Company lifted their price target on Ibotta from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Thursday. The Goldman Sachs Group lowered their price objective on Ibotta from $26.00 to $23.00 and set a “sell” rating for the company in a research report on Thursday, November 13th. Finally, Bank of America cut their target price on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating on the stock in a report on Thursday, November 13th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $33.14.

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.