Ibotta (NYSE:IBTA) Stock: Insider Marisa Daspit Sells 499 Shares

Ibotta, Inc. (NYSE:IBTA) insider Marisa Daspit sold 499 shares of Ibotta stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $50.15, for a total value of $25,024.85. Following the transaction, the insider owned 116,505 shares in the company, valued at approximately $5,842,725.75. This represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 Wednesday, October 21st, Marisa Daspit sold 247 shares of Ibotta stock. The shares were 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 transaction 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 Down 0.7%

Shares of NYSE:IBTA opened at $48.55 on Friday. Ibotta, Inc. has a 12 month low of $19.10 and a 12 month high of $50.53. The company’s fifty day simple moving average is $41.08 and its 200 day simple moving average is $35.68. The firm has a market cap of $980.71 million, a price-to-earnings ratio of -103.30 and a beta of -0.29.

Ibotta News Roundup

Here are the key news stories impacting Ibotta this week:

• Neutral Sentiment: All reported transactions were executed under pre-arranged Rule 10b5-1 trading plans, which reduces their significance as a discretionary signal that executives expect the stock to fall. CTO Luke Swanson and insider Marisa Daspit continue to own substantial positions. SEC Form 4 filing
• Negative Sentiment: CTO Luke Swanson sold a combined 25,018 shares in four transactions on October 21 and 22 for approximately $1.25 million. Although the sales reduced his holdings by relatively small percentages, repeated selling by a senior technology executive may weigh on sentiment and reinforce concerns about insider profit-taking. Luke Swanson SEC Form 4 filing
• Negative Sentiment: Marisa Daspit sold an additional 746 shares for approximately $37,375 across two transactions. The sales were small relative to her remaining stake, but the filings add to the overall pattern of insider selling in Ibotta stock. Marisa Daspit SEC Form 4 filing

Institutional Investors Weigh In On Ibotta

Several institutional investors have recently made changes to their positions in IBTA. State of Alaska Department of Revenue lifted its position in shares of Ibotta by 32.9% during the 3rd 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 during the period. Engineers Gate Manager LP acquired a new stake in shares of Ibotta in the 2nd quarter valued at approximately $328,000. Squarepoint Ops LLC bought a new stake in shares of Ibotta during the second quarter worth $290,000. Essential Partners LLC grew its position in Ibotta by 40,800.0% during the 1st quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after acquiring an additional 816 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Ibotta by 17.8% in the first quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock valued at $7,168,000 after buying an additional 36,223 shares during the period.

Wall Street Analysts Forecast Growth

IBTA has been the topic of several recent research reports. UBS Group lifted their price target on Ibotta from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a research note on Monday, September 21st. The Goldman Sachs Group raised their target price on shares of Ibotta from $28.00 to $32.00 and gave the company a “sell” rating in a research note on Tuesday, August 4th. Evercore set a $42.00 price objective on shares of Ibotta in a research report on Tuesday, August 4th. Finally, Wells Fargo & Company upped their price target on shares of Ibotta from $38.00 to $40.00 and gave the company an “equal weight” rating 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. Based on data from MarketBeat, Ibotta has a consensus rating of “Reduce” and an average target price of $36.50.

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.