Insider Selling: Ibotta (NYSE:IBTA) CTO Sells $236,352.60 in Stock

Ibotta, Inc. (NYSE:IBTA) CTO Luke Swanson sold 5,940 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $39.79, for a total transaction of $236,352.60. Following the completion of the sale, the chief technology officer directly owned 443,692 shares of the company’s stock, valued at approximately $17,654,504.68. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Luke Roy Swanson also recently made the following trade(s):

• On Thursday, September 10th, Luke Swanson sold 20,100 shares of Ibotta stock. The shares were sold at an average price of $40.04, for a total transaction of $804,804.00.
• On Tuesday, September 1st, Luke Swanson sold 5,940 shares of Ibotta stock. The stock was sold at an average price of $36.96, for a total transaction of $219,542.40.
• On Friday, August 7th, Luke Swanson sold 600 shares of Ibotta stock. The shares were sold at an average price of $39.90, for a total transaction of $23,940.00.
• On Friday, August 7th, Luke Swanson sold 200 shares of Ibotta stock. The shares were sold at an average price of $39.91, for a total transaction of $7,982.00.
• On Monday, August 3rd, Luke Swanson sold 5,940 shares of Ibotta stock. The stock was sold at an average price of $24.47, for a total transaction of $145,351.80.

Ibotta Stock Up 1.5%

Ibotta stock opened at $41.57 on Thursday. The firm has a market cap of $839.71 million, a P/E ratio of -88.44 and a beta of -0.29. The business has a fifty day moving average of $38.09 and a two-hundred day moving average of $34.32. Ibotta, Inc. has a twelve month low of $19.10 and a twelve month high of $43.43.

Hedge Funds Weigh In On Ibotta

A number of institutional investors have recently bought and sold shares of IBTA. Essential Partners LLC increased its stake in shares of Ibotta by 40,800.0% in the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after acquiring an additional 816 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Ibotta during the 1st quarter valued at about $39,000. New York State Teachers Retirement System acquired a new position in shares of Ibotta in the 1st quarter valued at about $39,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Ibotta by 335.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,754 shares of the company’s stock worth $63,000 after buying an additional 2,122 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Ibotta during the second quarter worth about $290,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IBTA shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a research report on Monday, September 21st. The Goldman Sachs Group boosted their target price on shares of Ibotta from $28.00 to $32.00 and gave the stock a “sell” rating in a report on Tuesday, August 4th. UBS Group increased their price target on shares of Ibotta from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Evercore set a $42.00 price objective on shares of Ibotta in a research report on Tuesday, August 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective on shares of Ibotta in a research note on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $36.50.

Ibotta Company Profile

Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Its services help consumers earn cash back and other incentives by engaging with offers from consumer packaged goods brands and retailers.

The company’s platform is available through the Ibotta mobile application, website, and integrated retail and digital-commerce experiences. Users can browse eligible offers, make qualifying purchases, and receive rewards after submitting proof of purchase or linking eligible loyalty accounts.