Insider Selling: Ibotta (NYSE:IBTA) Insider Sells 499 Shares of Stock

Key Points

• Insider sale: Ibotta insider Marisa Daspit sold 499 shares at an average price of $50.15, generating $25,024.85. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving her with 116,505 shares.
• Stock performance: Ibotta shares fell 0.7% to $48.55, after trading between $19.10 and $50.53 over the past year. The company’s market capitalization is approximately $980.7 million.
• Analyst outlook: Analysts have a consensus “Reduce” rating and an average price target of $36.50, with ratings ranging from Buy to Sell.

Ibotta, Inc. (NYSE:IBTA - Get Free Report) insider Marisa Daspit sold 499 shares of the business's stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $50.15, for a total transaction of $25,024.85. Following the sale, the insider directly owned 116,505 shares in the company, valued at approximately $5,842,725.75. This represents a 0.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 Wednesday, October 21st, Marisa Daspit sold 247 shares of Ibotta stock. The stock was sold at an average price of $50.00, for a total transaction of $12,350.00.
• On Wednesday, September 2nd, Marisa Daspit sold 2,956 shares of Ibotta stock. The shares were sold at an average price of $37.46, for a total value of $110,731.76.
• 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 Trading Down 0.7%

IBTA traded down $0.35 during midday trading on Friday, hitting $48.55. The company's stock had a trading volume of 185,573 shares, compared to its average volume of 254,327. The firm has a market cap of $980.71 million, a P/E ratio of -103.30 and a beta of -0.29. Ibotta, Inc. has a 52-week low of $19.10 and a 52-week high of $50.53. The firm has a 50-day moving average price of $40.88 and a two-hundred day moving average price of $35.59.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Ibotta from $28.00 to $32.00 and gave the stock a "sell" rating in a research note on Tuesday, August 4th. UBS Group raised their price objective on Ibotta from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Wells Fargo & Company boosted their target price on shares of Ibotta from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 4th. Evercore set a $42.00 target price on shares of Ibotta in a report on Tuesday, August 4th. Finally, Needham & Company LLC restated a "buy" rating and issued a $45.00 price target on shares of Ibotta in a research report on Tuesday, August 4th. One investment 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $36.50.

Hedge Funds Weigh In On Ibotta

Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue lifted its position in Ibotta by 32.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 1,083 shares of the company's stock valued at $42,000 after purchasing an additional 268 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Ibotta during the 2nd quarter valued at $328,000. Squarepoint Ops LLC acquired a new position in Ibotta during the 2nd quarter worth $290,000. Essential Partners LLC grew its stake in shares of 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 in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of 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 in the last quarter.

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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