Ibotta (NYSE:IBTA) CTO Sells 600 Shares

Key Points

• Ibotta CTO Luke Roy Swanson sold 600 shares at an average price of $39.90, worth $23,940, under a pre-arranged Rule 10b5-1 trading plan. He continues to own 205,600 shares.
• Ibotta shares recently traded at $36.42, near their 12-month high of $40.49, with the stock up from its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: the consensus rating is “Reduce” with a $36.50 target price, despite Needham’s $45.00 “Buy” target and UBS raising its objective to $38.00.

Ibotta, Inc. (NYSE:IBTA - Get Free Report) CTO Luke Roy Swanson sold 600 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $39.90, for a total value of $23,940.00. Following the completion of the transaction, the chief technology officer owned 205,600 shares of the company's stock, valued at $8,203,440. This trade represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 Friday, August 7th, Luke Roy 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 Roy Swanson sold 5,940 shares of Ibotta stock. The shares were sold at an average price of $24.47, for a total value of $145,351.80.
• On Wednesday, July 1st, Luke Roy Swanson sold 5,940 shares of Ibotta stock. The shares were sold at an average price of $35.14, for a total value of $208,731.60.
• On Thursday, June 4th, Luke Roy Swanson sold 5,940 shares of Ibotta stock. The stock was sold at an average price of $32.98, for a total value of $195,901.20.

Ibotta Price Performance

NYSE:IBTA traded up $0.23 during mid-day trading on Tuesday, reaching $36.42. The company's stock had a trading volume of 263,814 shares, compared to its average volume of 263,154. The company's fifty day simple moving average is $31.58 and its two-hundred day simple moving average is $29.38. Ibotta, Inc. has a twelve month low of $19.10 and a twelve month high of $40.49. The stock has a market cap of $735.68 million, a P/E ratio of -77.49 and a beta of -0.43.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IBTA. Needham & Company LLC reissued a "buy" rating and issued a $45.00 target price on shares of Ibotta in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ibotta in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of Ibotta from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. UBS Group boosted their price objective on shares of Ibotta from $30.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Finally, Evercore set a $42.00 price objective on Ibotta in a report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $36.50.

Institutional Trading of Ibotta

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Ibotta by 17.3% in the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company's stock valued at $43,749,000 after buying an additional 232,027 shares during the period. Hsbc Holdings PLC grew its stake in Ibotta by 1.5% during the first quarter. Hsbc Holdings PLC now owns 1,009,287 shares of the company's stock worth $30,581,000 after buying an additional 15,310 shares during the period. BNP Paribas Financial Markets increased its position in shares of Ibotta by 23.2% in the third quarter. BNP Paribas Financial Markets now owns 407,936 shares of the company's stock worth $11,361,000 after acquiring an additional 76,835 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Ibotta by 3,449.8% in the 4th quarter. Deutsche Bank AG now owns 369,890 shares of the company's stock valued at $8,408,000 after acquiring an additional 359,470 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Ibotta by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 327,479 shares of the company's stock valued at $7,445,000 after acquiring an additional 3,000 shares during the period.

Ibotta Company Profile

Ibotta NYSE: IBTA is a Denver‐based mobile commerce platform that connects consumers, retailers and brands through a unified cash-back rewards experience. Users access the Ibotta mobile app or browser extension to unlock rebates on everyday purchases, redeemable on groceries, retail goods, travel bookings and digital services. The platform integrates with major supermarket chains, big‐box retailers and online merchants, enabling shoppers to earn automatic cash-back both in physical stores and across e-commerce channels.

Founded in 2012 by co‐founder and CEO Bryan Leach, Ibotta has evolved from a simple rebate app into a comprehensive performance marketing partner for consumer goods companies.

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