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

Ibotta, Inc. (NYSE:IBTA) CTO Luke Swanson sold 5,940 shares of Ibotta stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $39.79, for a total value of $236,352.60. Following the transaction, the chief technology officer owned 443,692 shares in the company, valued at approximately $17,654,504.68. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 Thursday, September 10th, Luke Swanson sold 20,100 shares of Ibotta stock. The stock was sold at an average price of $40.04, for a total value of $804,804.00.
• 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 shares were 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.

Ibotta Trading Down 0.6%

Shares of IBTA stock traded down $0.26 during trading hours on Monday, hitting $41.35. 144,341 shares of the company were exchanged, compared to its average volume of 250,884. The business has a 50 day moving average of $37.23 and a two-hundred day moving average of $34.00. Ibotta, Inc. has a 52 week low of $19.10 and a 52 week high of $43.43. The company has a market capitalization of $835.27 million, a PE ratio of -87.98 and a beta of -0.29.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Essential Partners LLC boosted 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 buying an additional 816 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Ibotta during the 1st quarter worth about $39,000. New York State Teachers Retirement System acquired a new stake in Ibotta in the 1st quarter valued at about $39,000. Caitong International Asset Management Co. Ltd lifted its stake in Ibotta by 335.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,754 shares of the company’s stock valued at $63,000 after purchasing an additional 2,122 shares during the last quarter. Finally, Aristides Capital LLC bought a new position in shares of Ibotta during the 4th quarter worth approximately $220,000.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Ibotta from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 4th. Evercore set a $42.00 price target on shares of Ibotta in a research note on Tuesday, August 4th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Ibotta in a report on Tuesday, August 4th. Zacks Research upgraded shares of Ibotta from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a research note on Monday, September 21st. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $36.50.

Ibotta Company Profile

Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Its services help consumers earn cash back and other incentives by engaging with offers from consumer packaged goods brands and retailers.

The company’s platform is available through the Ibotta mobile application, website, and integrated retail and digital-commerce experiences. Users can browse eligible offers, make qualifying purchases, and receive rewards after submitting proof of purchase or linking eligible loyalty accounts.