Insider Selling: Ibotta (NYSE:IBTA) CTO Sells $208,731.60 in Stock

Ibotta, Inc. (NYSE:IBTA) CTO Luke Roy Swanson sold 5,940 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $35.14, for a total value of $208,731.60. Following the completion of the transaction, the chief technology officer owned 489,904 shares in the company, valued at approximately $17,215,226.56. This represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Luke Roy Swanson also recently made the following trade(s):

• On Thursday, June 4th, Luke Roy Swanson sold 5,940 shares of Ibotta stock. The stock was sold at an average price of $32.98, for a total value of $195,901.20.

Ibotta Stock Performance

Shares of NYSE IBTA traded down $2.63 during mid-day trading on Monday, hitting $32.94. The stock had a trading volume of 180,149 shares, compared to its average volume of 261,700. Ibotta, Inc. has a 1 year low of $19.10 and a 1 year high of $41.14. The business has a 50 day moving average price of $33.31 and a two-hundred day moving average price of $27.88. The firm has a market cap of $665.32 million, a P/E ratio of -96.88 and a beta of -0.59.

Ibotta (NYSE:IBTA) last posted its earnings results on Wednesday, May 6th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.45. The company had revenue of $82.48 million for the quarter. Ibotta had a negative return on equity of 2.39% and a negative net margin of 2.15%.The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 EPS. Equities research analysts predict that Ibotta, Inc. will post 0.24 EPS for the current fiscal year.

Ibotta announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 21.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Evercore set a $40.00 target price on Ibotta in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a research report on Wednesday, June 24th. Zacks Research raised shares of Ibotta from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Wells Fargo & Company upped their price objective on shares of Ibotta from $34.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $33.00.

Institutional Trading of Ibotta

Several institutional investors have recently added to or reduced their stakes in IBTA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ibotta by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock valued at $396,000 after buying an additional 515 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Ibotta in the first quarter worth $161,000. Goldman Sachs Group Inc. raised its holdings in Ibotta by 16.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 122,514 shares of the company’s stock valued at $5,170,000 after acquiring an additional 17,421 shares during the period. Legal & General Group Plc increased its holdings in Ibotta by 43.5% during the 2nd quarter. Legal & General Group Plc now owns 12,349 shares of the company’s stock worth $452,000 after acquiring an additional 3,746 shares during the period. Finally, Norges Bank bought a new stake in shares of Ibotta during the 2nd quarter valued at about $781,000.

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.