Ibotta (NYSE:IBTA) Shares Down 8.7% – Time to Sell?

Ibotta, Inc. (NYSE:IBTA) dropped 8.7% during trading on Monday . The stock traded as low as $35.07 and last traded at $35.07. 25,752 shares were traded during mid-day trading, a decline of 90% from the average session volume of 261,175 shares. The stock had previously closed at $38.42.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Zacks Research upgraded Ibotta from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of Ibotta in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. UBS Group increased their price objective on shares of Ibotta from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group lifted 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. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ibotta currently has a consensus rating of “Reduce” and a consensus target price of $36.50.

Ibotta Stock Performance

The business’s fifty day moving average price is $31.58 and its two-hundred day moving average price is $29.47. The stock has a market capitalization of $735.68 million, a P/E ratio of -77.49 and a beta of -0.44.

Insider Buying and Selling at Ibotta

In other news, CTO Luke Roy Swanson sold 5,940 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $24.47, for a total value of $145,351.80. Following the completion of the sale, the chief technology officer directly owned 483,964 shares of the company’s stock, valued at $11,842,599.08. This trade represents a 1.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jermoluk Founders Fund I. Clark sold 500,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $30.15, for a total value of $15,075,000.00. Following the transaction, the insider directly owned 3,341,308 shares in the company, valued at approximately $100,740,436.20. This represents a 13.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 594,527 shares of company stock worth $18,019,902 over the last ninety days. Company insiders own 20.92% of the company’s stock.

Institutional Investors Weigh In On Ibotta

Several institutional investors have recently made changes to their positions in IBTA. Essential Partners LLC raised its position in Ibotta by 40,800.0% in the 1st 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. Meeder Asset Management Inc. bought a new position in shares of Ibotta during the first quarter valued at approximately $39,000. New York State Teachers Retirement System bought a new stake in shares of Ibotta during the first quarter worth $39,000. Caitong International Asset Management Co. Ltd boosted its position in Ibotta by 187.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock valued at $41,000 after buying an additional 1,185 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Ibotta by 47,920.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock worth $55,000 after acquiring an additional 2,396 shares during the period.

About Ibotta

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.