Insider Selling: Ibotta (NYSE:IBTA) Insider Sells $110,731.76 in Stock

Key Points

• Insider sale: Marisa Daspit sold 2,956 Ibotta shares for $110,731.76 under a pre-arranged Rule 10b5-1 plan, reducing her stake by 2.46% to 117,251 shares. She also sold 1,712 shares the previous day.
• Stock performance: Ibotta shares fell 1.3% to $37.19, though they remained near the top of their 52-week range of $19.10 to $40.49. The company’s market capitalization was approximately $751 million.
• Analyst outlook: Coverage is mixed, with one Buy, four Hold and three Sell ratings; MarketBeat reports a consensus “Reduce” rating and a $36.50 price target, below the current share price.

Ibotta, Inc. (NYSE:IBTA - Get Free Report) insider Marisa Daspit sold 2,956 shares of the company's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $37.46, for a total transaction of $110,731.76. Following the sale, the insider owned 117,251 shares in the company, valued at $4,392,222.46. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marisa Daspit also recently made the following trade(s):

• 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 value of $63,361.12.

Ibotta Stock Down 1.3%

NYSE IBTA traded down $0.50 during trading hours on Thursday, hitting $37.19. 138,822 shares of the company were exchanged, compared to its average volume of 255,556. Ibotta, Inc. has a 52 week low of $19.10 and a 52 week high of $40.49. The stock has a 50-day moving average price of $33.42 and a 200 day moving average price of $31.28. The stock has a market cap of $751.24 million, a PE ratio of -79.13 and a beta of -0.25.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Ibotta from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Tuesday, August 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 price objective on shares of Ibotta in a research note on Tuesday, August 4th. The Goldman Sachs Group increased 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. Weiss Ratings restated a "sell (d)" rating on shares of Ibotta in a report on Wednesday, June 24th. Finally, Wall Street Zen raised shares of Ibotta from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. One equities research 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. According to data from MarketBeat, Ibotta has a consensus rating of "Reduce" and a consensus target price of $36.50.

Institutional Investors Weigh In On Ibotta

Several hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System boosted its holdings in Ibotta by 6,672.2% during the 2nd quarter. California State Teachers Retirement System now owns 351,882 shares of the company's stock valued at $12,020,000 after acquiring an additional 346,686 shares during the period. Essential Partners LLC increased its stake in Ibotta by 40,800.0% in the first quarter. Essential Partners LLC now owns 818 shares of the company's stock worth $25,000 after purchasing an additional 816 shares during the period. Bank of America Corp DE increased its stake in Ibotta by 17.8% in 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. Renaissance Technologies LLC lifted its position in shares of Ibotta by 17.7% during the first quarter. Renaissance Technologies LLC now owns 239,300 shares of the company's stock worth $7,172,000 after purchasing an additional 35,992 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Ibotta during the first quarter valued at $344,000.

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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