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

Ibotta, Inc. (NYSE:IBTA) CTO Luke Roy Swanson sold 5,940 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $32.98, for a total transaction of $195,901.20. Following the completion of the transaction, the chief technology officer directly owned 495,844 shares in the company, valued at approximately $16,352,935.12. The trade was a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ibotta Trading Up 3.7%

IBTA opened at $33.27 on Wednesday. The company has a market cap of $672.05 million, a price-to-earnings ratio of -97.85 and a beta of -0.59. The company’s 50 day moving average is $33.51 and its 200 day moving average is $26.67. Ibotta, Inc. has a 12-month low of $19.10 and a 12-month high of $49.99.

Ibotta (NYSE:IBTA) last released its earnings results on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.45. Ibotta had a negative net margin of 2.15% and a negative return on equity of 2.39%. The company had revenue of $82.48 million for the quarter. During the same quarter in the previous year, the business posted $0.02 EPS. Ibotta’s revenue was down 2.5% on a year-over-year basis. As a group, analysts predict that Ibotta, Inc. will post 0.24 EPS for the current fiscal year.

Ibotta announced that its board has approved a share repurchase program on Wednesday, March 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 21.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Evercore set a $40.00 target price on shares of Ibotta in a research note on Thursday, May 7th. Wells Fargo & Company raised their target price on shares of Ibotta from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Needham & Company LLC raised their target price on shares of Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Zacks Research cut shares of Ibotta from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Ibotta has an average rating of “Reduce” and an average target price of $33.00.

Institutional Investors Weigh In On Ibotta

Several institutional investors and hedge funds have recently modified their holdings of IBTA. Deutsche Bank AG raised its position in shares of Ibotta by 3,449.8% during the fourth quarter. Deutsche Bank AG now owns 369,890 shares of the company’s stock valued at $8,408,000 after buying an additional 359,470 shares during the last quarter. Citigroup Inc. raised its position in shares of Ibotta by 90.2% during the third quarter. Citigroup Inc. now owns 641,337 shares of the company’s stock valued at $17,861,000 after buying an additional 304,183 shares during the last quarter. ARK Investment Management LLC raised its position in shares of Ibotta by 39.3% during the third quarter. ARK Investment Management LLC now owns 907,386 shares of the company’s stock valued at $25,271,000 after buying an additional 255,899 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Ibotta by 17.3% during the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock valued at $43,749,000 after buying an additional 232,027 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Ibotta during the second quarter valued at approximately $8,397,000.

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.