Ibotta (NYSE:IBTA) Stock: Insider Luke Roy Swanson Sells 30,206 Shares

Ibotta, Inc. (NYSE:IBTA) CTO Luke Swanson sold 30,206 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $62.20, for a total transaction of $1,878,813.20. Following the sale, the chief technology officer owned 186,146 shares of the company’s stock, valued at $11,578,281.20. This trade represents a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, November 3rd, Luke Swanson sold 3,094 shares of Ibotta stock. The shares were sold at an average price of $59.90, for a total value of $185,330.60.
• On Monday, November 2nd, Luke Swanson sold 10,031 shares of Ibotta stock. The stock was sold at an average price of $49.55, for a total value of $497,036.05.
• On Monday, November 2nd, Luke Swanson sold 10,131 shares of Ibotta stock. The stock was sold at an average price of $49.60, for a total value of $502,497.60.
• 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 value 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 value of $184,639.15.
• On Wednesday, October 21st, Luke Swanson sold 9,075 shares of Ibotta stock. The shares were sold at an average price of $49.91, for a total value of $452,933.25.
• On Wednesday, October 21st, Luke Swanson sold 8,764 shares of Ibotta stock. The stock was sold at an average price of $49.92, for a total transaction of $437,498.88.
• On Thursday, October 1st, Luke Swanson sold 5,940 shares of Ibotta stock. The stock was sold at an average price of $39.79, for a total transaction 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 transaction 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 transaction of $219,542.40.

Ibotta Price Performance

NYSE IBTA opened at $57.88 on Friday. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -86.39 and a beta of -0.46. The company’s fifty day moving average is $43.81 and its two-hundred day moving average is $33.42. Ibotta, Inc. has a 52-week low of $19.10 and a 52-week high of $66.39.

Ibotta (NYSE:IBTA) last announced its quarterly earnings data on Monday, November 2nd. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.49. Ibotta had a negative net margin of 4.49% and a negative return on equity of 5.51%. The business had revenue of $97.83 million during the quarter. During the same period in the prior year, the company posted $0.56 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, sell-side analysts expect that Ibotta, Inc. will post 0.29 earnings per share for the current fiscal year.

Trending Headlines about Ibotta

Here are the key news stories impacting Ibotta this week:

• Positive Sentiment: Quarterly results beat expectations: Ibotta reported $0.62 in earnings per share, versus analyst estimates of $0.13, while revenue grew 17.4% year over year to $97.83 million. The stock also recently reached a 12-month high following the results. Article: Ibotta rallies on Q3 results
• Positive Sentiment: Needham raised its target and kept a Buy rating: The firm lifted its price target from $45 to $65, signaling further potential upside. Article: Citigroup issues positive forecast for Ibotta
• Neutral Sentiment: Goldman Sachs and Citigroup turned more constructive, but remain Neutral: Goldman raised its rating from Sell to Neutral and its target to $58; Citi set a Neutral rating and a $60 target. Those targets suggest limited upside relative to the stock’s recent trading level. Article: Ibotta raised to Neutral at Goldman Sachs
• Negative Sentiment: Executives disclosed share sales: CTO Luke Swanson sold shares in several transactions, while insider Marisa Daspit sold 720 shares. The trades were made under pre-arranged Rule 10b5-1 plans, which may make them less informative as a signal about near-term prospects, but could add to selling pressure after the rally. Article: Ibotta insider sells shares

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IBTA. Hsbc Holdings PLC lifted its position in shares of Ibotta by 29.4% during the 4th quarter. Hsbc Holdings PLC now owns 993,977 shares of the company’s stock worth $22,210,000 after buying an additional 226,021 shares during the period. Bank of America Corp DE boosted its stake in Ibotta by 17.8% in the 1st 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 in the last quarter. Renaissance Technologies LLC grew its position in Ibotta by 17.7% in the first quarter. Renaissance Technologies LLC now owns 239,300 shares of the company’s stock valued at $7,172,000 after acquiring an additional 35,992 shares during the period. State of Alaska Department of Revenue grew its position 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 valued at $42,000 after acquiring an additional 268 shares during the period. Finally, Engineers Gate Manager LP bought a new stake in Ibotta in the second quarter valued at $328,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on IBTA shares. Citigroup raised their price objective on Ibotta from $34.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group upgraded Ibotta from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $35.00 to $58.00 in a research report on Tuesday. Wells Fargo & Company upped their target price on Ibotta from $40.00 to $49.00 and gave the company an “equal weight” rating in a research note on Tuesday. UBS Group raised their target price on Ibotta from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Finally, Needham & Company LLC lifted their price target on shares of Ibotta from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price 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.