Ibotta (NYSE:IBTA) Stock: Insider Luke Roy Swanson Sells 5,940 Shares

Key Points

• Ibotta CTO Luke Roy Swanson sold 5,940 shares at an average price of $39.79, generating $236,352.60. The transaction was made under a pre-arranged Rule 10b5-1 plan, leaving him with 443,692 shares.
• Ibotta shares recently traded at $41.35, near their 12-month high of $43.43, with a market capitalization of approximately $835 million.
• Analysts maintain a cautious outlook, with a consensus “Reduce” rating and a $36.50 price target; institutional investors including Bank of America and Renaissance Technologies have increased their holdings.

Ibotta, Inc. (NYSE:IBTA - Get Free Report) CTO Luke Swanson sold 5,940 shares of the business's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $39.79, for a total transaction of $236,352.60. Following the completion of the sale, the chief technology officer owned 443,692 shares in the company, valued at approximately $17,654,504.68. This trade represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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, 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 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 shares were 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 stock was 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 stock was sold at an average price of $24.47, for a total value of $145,351.80.

Ibotta Stock Performance

Shares of IBTA stock traded down $0.26 on Monday, reaching $41.35. 144,341 shares of the company's stock traded hands, compared to its average volume of 250,884. The company has a market capitalization of $835.27 million, a P/E ratio of -87.98 and a beta of -0.29. Ibotta, Inc. has a 12-month low of $19.10 and a 12-month high of $43.43. The business's 50 day moving average price is $37.23 and its two-hundred day moving average price is $34.00.

Analyst Ratings Changes

IBTA has been the subject of several research analyst reports. Zacks Research upgraded shares of Ibotta from a "strong sell" rating to a "hold" rating in a research note on Monday, June 8th. Wells Fargo & Company lifted their target price on Ibotta from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 4th. Evercore set a $42.00 price target on Ibotta in a research note on Tuesday, August 4th. The Goldman Sachs Group boosted their price target on shares of Ibotta from $28.00 to $32.00 and gave the company a "sell" rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ibotta in a report on Monday, September 21st. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Ibotta currently has a consensus rating of "Reduce" and a consensus target price of $36.50.

Institutional Investors Weigh In On Ibotta

A number of hedge funds have recently made changes to their positions in IBTA. Engineers Gate Manager LP bought a new stake in shares of Ibotta during the second quarter worth $328,000. Squarepoint Ops LLC bought a new position in Ibotta in the second quarter valued at approximately $290,000. Essential Partners LLC grew its holdings 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 period. Bank of America Corp DE grew its stake in shares of Ibotta by 17.8% during the first quarter. Bank of America Corp DE now owns 239,167 shares of the company's stock worth $7,168,000 after purchasing an additional 36,223 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Ibotta by 17.7% in the 1st 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 last quarter.

Ibotta Company Profile

Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Its services help consumers earn cash back and other incentives by engaging with offers from consumer packaged goods brands and retailers.

The company's platform is available through the Ibotta mobile application, website, and integrated retail and digital-commerce experiences. Users can browse eligible offers, make qualifying purchases, and receive rewards after submitting proof of purchase or linking eligible loyalty accounts.

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