Ibotta (NYSE:IBTA) Stock: Insider Luke Roy Swanson Sells 3,695 Shares

Key Points

• Ibotta CTO Luke Roy Swanson sold 3,695 shares at an average price of $49.97, totaling $184,639.15. The transaction was made under a pre-arranged Rule 10b5-1 plan, leaving him with 431,233 shares.
• Ibotta shares recently traded at $48.55, near their 52-week high of $50.53, with a market capitalization of approximately $980.7 million.
• Analyst sentiment remains cautious: Ibotta has a consensus rating of “Reduce” and an average price target of $36.50, versus the recent share price.

Ibotta, Inc. (NYSE:IBTA - Get Free Report) CTO Luke Swanson sold 3,695 shares of the stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $49.97, for a total value of $184,639.15. Following the transaction, the chief technology officer owned 431,233 shares in the company, valued at $21,548,713.01. The trade was a 0.85% 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.

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 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 transaction of $452,933.25.
• 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 transaction 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 transaction of $236,352.60.
• On Thursday, September 10th, Luke Swanson sold 20,100 shares of Ibotta stock. The stock was 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 stock was sold at an average price of $36.96, for a total transaction 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 transaction of $23,940.00.
• On Friday, August 7th, Luke Swanson sold 200 shares of Ibotta stock. The shares were sold at an average price of $39.91, for a total transaction of $7,982.00.
• On Monday, August 3rd, Luke Swanson sold 5,940 shares of Ibotta stock. The shares were sold at an average price of $24.47, for a total transaction of $145,351.80.

Ibotta Stock Performance

Shares of NYSE IBTA traded down $0.35 during trading on Friday, hitting $48.55. 185,573 shares of the company traded hands, compared to its average volume of 254,327. The business's fifty day moving average is $40.88 and its 200 day moving average is $35.59. Ibotta, Inc. has a fifty-two week low of $19.10 and a fifty-two week high of $50.53. The firm has a market capitalization of $980.71 million, a price-to-earnings ratio of -103.30 and a beta of -0.29.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IBTA. Essential Partners LLC grew its holdings in Ibotta by 40,800.0% during the first quarter. Essential Partners LLC now owns 818 shares of the company's stock worth $25,000 after buying an additional 816 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Ibotta in the 1st quarter valued at $39,000. New York State Teachers Retirement System bought a new position in Ibotta during the 1st quarter valued at $39,000. State of Alaska Department of Revenue grew its stake in shares of Ibotta by 32.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 1,083 shares of the company's stock worth $42,000 after acquiring an additional 268 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Ibotta by 335.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,754 shares of the company's stock worth $63,000 after acquiring an additional 2,122 shares in the last quarter.

Analyst Ratings Changes

IBTA has been the subject of several research reports. The Goldman Sachs Group raised their target price on Ibotta from $28.00 to $32.00 and gave the company a "sell" rating in a research note on Tuesday, August 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 price target on shares of Ibotta in a research note on Tuesday, August 4th. Weiss Ratings reiterated a "sell (d)" rating on shares of Ibotta in a report on Monday, September 21st. Evercore set a $42.00 price objective on Ibotta in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company boosted their price objective on Ibotta from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $36.50.

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.

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