Ibotta (NYSE:IBTA) Stock: Insider Luke Roy Swanson Sells 9,075 Shares

Ibotta, Inc. (NYSE:IBTA) CTO Luke Swanson sold 9,075 shares of the firm’s stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $49.91, for a total transaction of $452,933.25. Following the completion of the sale, the chief technology officer directly owned 229,867 shares in the company, valued at approximately $11,472,661.97. This trade represents a 3.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, October 22nd, Luke Swanson sold 3,484 shares of Ibotta stock. The stock was sold at an average price of $49.96, for a total transaction of $174,060.64.
• On Thursday, October 22nd, Luke Swanson sold 3,695 shares of Ibotta stock. The stock was sold at an average price of $49.97, for a total transaction of $184,639.15.
• On Wednesday, October 21st, Luke Swanson sold 8,764 shares of Ibotta stock. The shares were sold at an average price of $49.92, for a total value of $437,498.88.
• On Thursday, October 1st, Luke Swanson sold 5,940 shares of Ibotta stock. The shares were sold at an average price of $39.79, for a total value of $236,352.60.
• 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 value of $804,804.00.
• On Tuesday, September 1st, Luke Swanson sold 5,940 shares of Ibotta stock. The shares were sold at an average price of $36.96, for a total value of $219,542.40.
• On Friday, August 7th, Luke Swanson sold 600 shares of Ibotta stock. The stock was sold at an average price of $39.90, for a total value of $23,940.00.
• On Friday, August 7th, Luke Swanson sold 200 shares of Ibotta stock. The stock was sold at an average price of $39.91, for a total value 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 value of $145,351.80.

Ibotta Price Performance

Shares of IBTA traded down $0.35 during mid-day trading on Friday, reaching $48.55. The company’s stock had a trading volume of 185,573 shares, compared to its average volume of 254,327. Ibotta, Inc. has a 12-month low of $19.10 and a 12-month high of $50.53. The stock has a market cap of $980.71 million, a PE ratio of -103.30 and a beta of -0.29. The company’s 50 day moving average is $40.88 and its 200 day moving average is $35.59.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IBTA. The Goldman Sachs Group upped their price target on Ibotta from $28.00 to $32.00 and gave the company a “sell” rating in a report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a report on Monday, September 21st. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Ibotta in a report on Tuesday, August 4th. UBS Group boosted their price objective on shares of Ibotta from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Finally, Evercore set a $42.00 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 assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $36.50.

Hedge Funds Weigh In On Ibotta

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue increased 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 purchasing an additional 268 shares during the period. Essential Partners LLC lifted 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 valued at $25,000 after purchasing an additional 816 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Ibotta in the 1st quarter worth approximately $39,000. New York State Teachers Retirement System acquired a new stake in Ibotta in the first quarter valued at $39,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Ibotta by 335.8% in the 4th 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 during the last quarter.

About Ibotta

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.