Amova Asset Management Americas Inc. Buys 172,314 Shares of Ibotta, Inc. $IBTA

Amova Asset Management Americas Inc. lifted its position in Ibotta, Inc. (NYSE:IBTA) by 15.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,279,652 shares of the company’s stock after buying an additional 172,314 shares during the quarter. Amova Asset Management Americas Inc. owned about 5.07% of Ibotta worth $35,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Ibotta by 481.8% during 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 last quarter. Citigroup Inc. increased its position in Ibotta by 90.2% in the 3rd quarter. Citigroup Inc. now owns 641,337 shares of the company’s stock worth $17,861,000 after buying an additional 304,183 shares during the period. ARK Investment Management LLC boosted its position in shares of Ibotta by 39.3% in the third quarter. ARK Investment Management LLC now owns 907,386 shares of the company’s stock valued at $25,271,000 after acquiring an additional 255,899 shares during the period. Vanguard Group Inc. boosted its holdings in Ibotta by 17.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock valued at $43,749,000 after purchasing an additional 232,027 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Ibotta during the 2nd quarter worth about $8,397,000.

Ibotta Stock Down 6.6%

Shares of NYSE IBTA opened at $23.95 on Thursday. Ibotta, Inc. has a 12-month low of $19.10 and a 12-month high of $62.74. The firm’s 50-day simple moving average is $22.18 and its 200 day simple moving average is $25.36. The company has a market cap of $507.98 million, a price-to-earnings ratio of 217.75 and a beta of -1.20.

Ibotta (NYSE:IBTA) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.04) earnings per share 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 1.04%. The company had revenue of $88.53 million during the quarter. During the same period in the prior year, the company posted $0.67 earnings per share. Ibotta’s quarterly revenue was down 10.0% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IBTA. Wells Fargo & Company increased their target price on shares of Ibotta from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Ibotta from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Bank of America lowered their target price on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating on the stock in a research note on Thursday, November 13th. Finally, The Goldman Sachs Group cut their target price on Ibotta from $26.00 to $23.00 and set a “sell” rating for the company in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Ibotta has a consensus rating of “Reduce” and a consensus target price of $33.14.

About Ibotta

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.