Insider Selling: Ibotta (NYSE:IBTA) Director Sells 19,561 Shares

Key Points

• Director Thomas Lehrman sold 19,561 Ibotta shares at an average price of $36.22, generating approximately $708,499 and reducing his direct ownership by 43.59% to 25,312 shares.
• Ibotta shares recently traded at $38.11, near the upper end of their 52-week range of $19.10 to $40.49, with the stock above both its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: MarketBeat reports an average rating of “Reduce” and a $36.50 average price target, despite one Buy rating and recent target increases from UBS, Evercore and Needham.

Ibotta, Inc. (NYSE:IBTA - Get Free Report) Director Thomas Lehrman sold 19,561 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $36.22, for a total value of $708,499.42. Following the sale, the director directly owned 25,312 shares in the company, valued at approximately $916,800.64. This trade represents a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Ibotta Stock Performance

Shares of IBTA traded up $2.26 during trading hours on Thursday, hitting $38.11. The stock had a trading volume of 326,340 shares, compared to its average volume of 263,992. The firm has a 50-day moving average price of $31.65 and a 200 day moving average price of $29.55. The firm has a market capitalization of $769.82 million, a price-to-earnings ratio of -81.08 and a beta of -0.44. Ibotta, Inc. has a fifty-two week low of $19.10 and a fifty-two week high of $40.49.

Hedge Funds Weigh In On Ibotta

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Essential Partners LLC grew its stake in shares of Ibotta by 40,800.0% in the 1st quarter. Essential Partners LLC now owns 818 shares of the company's stock valued at $25,000 after purchasing an additional 816 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Ibotta in the first quarter valued at about $39,000. New York State Teachers Retirement System purchased a new stake in shares of Ibotta during the 1st quarter worth approximately $39,000. Quantbot Technologies LP purchased a new position in shares of Ibotta in the second quarter valued at $66,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Ibotta by 187.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company's stock worth $41,000 after acquiring an additional 1,185 shares during the last quarter.

Analyst Upgrades and Downgrades

IBTA has been the topic of several research analyst reports. Zacks Research upgraded shares of Ibotta from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. Evercore set a $42.00 target price on Ibotta in a report on Tuesday, August 4th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ibotta in a research report on Wednesday, June 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $45.00 target price on shares of Ibotta in a research report on Tuesday, August 4th. Finally, UBS Group upped their price target on Ibotta from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $36.50.

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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