Ibotta (NYSE:IBTA) Insider Sells 247 Shares of Stock

Ibotta, Inc. (NYSE:IBTA) insider Marisa Daspit sold 247 shares of the company’s stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $50.00, for a total value of $12,350.00. Following the transaction, the insider directly owned 117,004 shares in the company, valued at approximately $5,850,200. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marisa Daspit also recently made the following trade(s):

• On Thursday, October 22nd, Marisa Daspit sold 499 shares of Ibotta stock. The stock was sold at an average price of $50.15, for a total transaction of $25,024.85.
• On Wednesday, September 2nd, Marisa Daspit sold 2,956 shares of Ibotta stock. The shares were sold at an average price of $37.46, for a total value of $110,731.76.
• On Tuesday, September 1st, Marisa Daspit sold 1,712 shares of Ibotta stock. The stock was sold at an average price of $37.01, for a total transaction of $63,361.12.

Ibotta Stock Performance

Shares of Ibotta stock traded down $0.35 on Friday, hitting $48.55. 185,573 shares of the company’s stock were exchanged, compared to its average volume of 254,327. The company has a 50-day simple moving average of $40.88 and a 200-day simple moving average of $35.59. The stock has a market capitalization of $980.71 million, a PE ratio of -103.30 and a beta of -0.29. Ibotta, Inc. has a 1 year low of $19.10 and a 1 year high of $50.53.

Hedge Funds Weigh In On Ibotta

A number of institutional investors have recently modified their holdings of the stock. Essential Partners LLC raised its position in Ibotta by 40,800.0% during the 1st quarter. Essential Partners LLC now owns 818 shares of the company’s stock valued at $25,000 after purchasing an additional 816 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Ibotta during the first quarter valued at $39,000. New York State Teachers Retirement System purchased a new position in shares of Ibotta during the first quarter valued at $39,000. State of Alaska Department of Revenue raised its holdings in shares of Ibotta by 32.9% in the third quarter. State of Alaska Department of Revenue now owns 1,083 shares of the company’s stock valued at $42,000 after acquiring an additional 268 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings 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 valued at $63,000 after acquiring an additional 2,122 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. The Goldman Sachs Group upped 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 boosted their price objective on 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 target price on Ibotta in a research report on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a research report on Monday, September 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $45.00 target price on shares of Ibotta in a report on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $36.50.

Ibotta Company Profile

Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Through its Ibotta app and website, consumers can earn cash back and other rewards by purchasing eligible products from participating retailers. The company’s offerings are designed to help brands and retailers deliver targeted promotions, measure consumer engagement and encourage purchases.

Ibotta also provides its technology to retailers, publishers and other business partners through the Ibotta Performance Network.