Insider Selling: Ibotta (NYSE:IBTA) CTO Sells $804,804.00 in Stock

Ibotta, Inc. (NYSE:IBTA) CTO Luke Swanson sold 20,100 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $40.04, for a total value of $804,804.00. Following the sale, the chief technology officer directly owned 446,032 shares in the company, valued at approximately $17,859,121.28. This trade represents a 4.31% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 1st, Luke Swanson sold 5,940 shares of Ibotta stock. The shares were sold at an average price of $36.96, for a total value of $219,542.40.
• On Friday, August 7th, Luke Swanson sold 600 shares of Ibotta stock. The stock was sold at an average price of $39.90, for a total value of $23,940.00.
• On Friday, August 7th, Luke Swanson sold 200 shares of Ibotta stock. The stock was sold at an average price of $39.91, for a total transaction of $7,982.00.
• On Monday, August 3rd, Luke Swanson sold 5,940 shares of Ibotta stock. The shares were sold at an average price of $24.47, for a total transaction of $145,351.80.
• On Wednesday, July 1st, Luke Swanson sold 5,940 shares of Ibotta stock. The shares were sold at an average price of $35.14, for a total transaction of $208,731.60.

Ibotta Stock Performance

Shares of NYSE IBTA opened at $41.52 on Thursday. The company’s fifty day moving average price is $34.61 and its 200 day moving average price is $32.56. Ibotta, Inc. has a 1 year low of $19.10 and a 1 year high of $43.43. The company has a market capitalization of $838.70 million, a PE ratio of -88.34 and a beta of -0.25.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IBTA shares. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a research note on Wednesday, June 24th. UBS Group lifted their price target on Ibotta from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Zacks Research raised Ibotta from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Wells Fargo & Company increased their price target on Ibotta from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group raised their price objective on Ibotta from $28.00 to $32.00 and gave the company a “sell” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Ibotta currently has an average rating of “Reduce” and a consensus price target of $36.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Essential Partners LLC increased its holdings in shares of Ibotta by 40,800.0% in the first 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. purchased a new stake in Ibotta in the 1st quarter valued at $39,000. New York State Teachers Retirement System acquired a new stake in shares of Ibotta in the 1st quarter worth $39,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Ibotta by 335.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,754 shares of the company’s stock worth $63,000 after acquiring an additional 2,122 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Ibotta during the 2nd quarter worth $290,000.

About Ibotta

Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Its services connect consumers with cash-back offers on groceries, household products, apparel, electronics and other categories, while helping brands and retailers deliver targeted promotions and measure consumer engagement.

Consumers can access Ibotta offers through the company’s mobile application and website, as well as through integrations with participating retailers and loyalty programs.