ARK Investment Management LLC Has $25.27 Million Stake in Ibotta, Inc. $IBTA

ARK Investment Management LLC lifted its holdings in shares of Ibotta, Inc. (NYSE:IBTA) by 39.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 907,386 shares of the company’s stock after purchasing an additional 255,899 shares during the quarter. ARK Investment Management LLC owned 3.59% of Ibotta worth $25,271,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of IBTA. JPMorgan Chase & Co. increased its stake in 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 in the last quarter. Citigroup Inc. increased its position in shares of Ibotta by 90.2% during the third quarter. Citigroup Inc. now owns 641,337 shares of the company’s stock worth $17,861,000 after acquiring an additional 304,183 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Ibotta by 17.3% during the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock worth $43,749,000 after acquiring an additional 232,027 shares during the period. Marshall Wace LLP bought a new stake in Ibotta in the 2nd quarter valued at $8,397,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Ibotta by 15.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,281,219 shares of the company’s stock worth $35,682,000 after purchasing an additional 168,054 shares during the period.

Ibotta Stock Performance

Shares of NYSE IBTA opened at $23.95 on Thursday. The stock has a 50 day moving average price of $22.18 and a 200 day moving average price of $25.36. The stock has a market capitalization of $507.98 million, a PE ratio of 217.75 and a beta of -1.20. Ibotta, Inc. has a 52 week low of $19.10 and a 52 week high of $62.74.

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

Analysts Set New Price Targets

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