Ibotta (NYSE:IBTA) Insider Marisa Daspit Sells 247 Shares of Company Stock

Ibotta, Inc. (NYSE:IBTA) insider Marisa Daspit sold 247 shares of the company’s stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $50.00, for a total transaction of $12,350.00. Following the completion of the transaction, the insider owned 117,004 shares of the company’s stock, valued at $5,850,200. This represents a 0.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 22nd, Marisa Daspit sold 499 shares of Ibotta stock. The stock was sold at an average price of $50.15, for a total value of $25,024.85.
• On Wednesday, September 2nd, Marisa Daspit sold 2,956 shares of Ibotta stock. The stock was sold at an average price of $37.46, for a total transaction 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 transaction of $63,361.12.

Ibotta Stock Down 0.7%

IBTA stock traded down $0.35 during trading on Friday, hitting $48.55. The company had a trading volume of 188,192 shares, compared to its average volume of 271,505. Ibotta, Inc. has a 1-year low of $19.10 and a 1-year high of $50.53. The firm has a 50-day moving average price of $41.08 and a 200-day moving average price of $35.68. The firm has a market cap of $980.71 million, a PE ratio of -103.30 and a beta of -0.29.

Ibotta News Summary

Here are the key news stories impacting Ibotta this week:

• Neutral Sentiment: All reported transactions were executed under pre-arranged Rule 10b5-1 trading plans, which reduces their significance as a discretionary signal that executives expect the stock to fall. CTO Luke Swanson and insider Marisa Daspit continue to own substantial positions. SEC Form 4 filing
• Negative Sentiment: CTO Luke Swanson sold a combined 25,018 shares in four transactions on October 21 and 22 for approximately $1.25 million. Although the sales reduced his holdings by relatively small percentages, repeated selling by a senior technology executive may weigh on sentiment and reinforce concerns about insider profit-taking. Luke Swanson SEC Form 4 filing
• Negative Sentiment: Marisa Daspit sold an additional 746 shares for approximately $37,375 across two transactions. The sales were small relative to her remaining stake, but the filings add to the overall pattern of insider selling in Ibotta stock. Marisa Daspit SEC Form 4 filing

Institutional Trading of Ibotta

Hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue boosted its position in shares of Ibotta by 32.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 1,083 shares of the company’s stock worth $42,000 after purchasing an additional 268 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Ibotta in the 2nd quarter valued at about $328,000. Squarepoint Ops LLC purchased a new position in shares of Ibotta in the 2nd quarter valued at about $290,000. Essential Partners LLC increased its holdings 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 in the last quarter. Finally, Bank of America Corp DE lifted 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 valued at $7,168,000 after purchasing an additional 36,223 shares during the period.

Analyst Ratings Changes

IBTA has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a report on Monday, September 21st. Wells Fargo & Company boosted their price objective 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. The Goldman Sachs Group upped their price objective on shares of Ibotta from $28.00 to $32.00 and gave the stock a “sell” rating in a research report on Tuesday, August 4th. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Ibotta in a research note on Tuesday, August 4th. Finally, UBS Group lifted their target price on shares of Ibotta from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $36.50.

About Ibotta

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.