Ibotta (NYSE:IBTA) Insider Sells $36,007.20 in Stock

Ibotta, Inc. (NYSE:IBTA) insider Marisa Daspit sold 720 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $50.01, for a total value of $36,007.20. Following the sale, the insider directly owned 115,539 shares in the company, valued at $5,778,105.39. This trade represents a 0.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 30th, Marisa Daspit sold 102 shares of Ibotta stock. The shares were sold at an average price of $50.08, for a total transaction of $5,108.16.
• On Thursday, October 29th, Marisa Daspit sold 144 shares of Ibotta stock. The stock was sold at an average price of $50.00, for a total transaction of $7,200.00.
• 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 value of $25,024.85.
• On Wednesday, October 21st, Marisa Daspit sold 247 shares of Ibotta stock. The stock was sold at an average price of $50.00, for a total value of $12,350.00.
• 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 Price Performance

Shares of IBTA stock opened at $58.34 on Friday. Ibotta, Inc. has a 1-year low of $19.10 and a 1-year high of $66.39. The stock has a 50-day moving average of $44.25 and a 200-day moving average of $33.59.

Ibotta (NYSE:IBTA) last released its quarterly earnings data on Monday, November 2nd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.13 by $0.49. Ibotta had a negative return on equity of 5.40% and a negative net margin of 4.49%. The firm had revenue of $97.83 million for the quarter. During the same quarter in the prior year, the firm posted $0.56 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Research analysts expect that Ibotta, Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Ibotta

A number of hedge funds and other institutional investors have recently modified their holdings of IBTA. State of Alaska Department of Revenue raised its holdings in Ibotta by 32.9% in the third quarter. State of Alaska Department of Revenue now owns 1,083 shares of the company’s stock worth $42,000 after buying an additional 268 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Ibotta during the 2nd quarter worth $328,000. Squarepoint Ops LLC purchased a new position in shares of Ibotta during the 2nd quarter worth approximately $290,000. Essential Partners LLC grew its holdings in 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. Finally, Bank of America Corp DE grew its stake in Ibotta by 17.8% during the 1st quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock worth $7,168,000 after buying an additional 36,223 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC upped their target price on shares of Ibotta from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings raised shares of Ibotta from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday. Wells Fargo & Company raised their price objective on Ibotta from $40.00 to $49.00 and gave the company an “equal weight” rating in a research note on Tuesday. The Goldman Sachs Group upgraded shares of Ibotta from a “sell” rating to a “neutral” rating and lifted their price target for the company from $35.00 to $58.00 in a report on Tuesday. Finally, Citigroup increased their price objective on shares of Ibotta from $34.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $50.00.

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.