Ibotta (NYSE:IBTA) Shares Gap Down – Should You Sell?

Ibotta, Inc. (NYSE:IBTA)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $37.27, but opened at $36.23. Ibotta shares last traded at $37.29, with a volume of 38,288 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group increased their price objective on Ibotta from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Evercore set a $42.00 target price on shares of Ibotta in a research report on Tuesday, August 4th. The Goldman Sachs Group increased their price target on shares of Ibotta from $28.00 to $32.00 and gave the stock a “sell” rating in a research note on Tuesday, August 4th. Wall Street Zen raised shares of Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research raised shares of Ibotta from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. One equities research 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’s stock. According to data from MarketBeat, Ibotta has a consensus rating of “Reduce” and an average price target of $36.50.

Ibotta Trading Down 0.1%

The stock has a market cap of $752.38 million, a P/E ratio of -79.25 and a beta of -0.26. The firm’s fifty day moving average is $33.30 and its 200 day moving average is $31.16.

Insider Transactions at Ibotta

In other Ibotta news, CTO Luke Roy Swanson sold 5,940 shares of Ibotta 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 transaction, the chief technology officer directly owned 483,964 shares of the company’s stock, valued at $11,842,599.08. The trade was a 1.21% decrease in their position. The sale 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. Also, Director Thomas D. Lehrman sold 19,561 shares of Ibotta stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $36.22, for a total value of $708,499.42. Following the completion of the transaction, the director directly owned 25,312 shares in the company, valued at approximately $916,800.64. This represents a 43.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 591,300 shares of company stock worth $18,316,717. Company insiders own 20.92% of the company’s stock.

Institutional Investors Weigh In On Ibotta

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Essential Partners LLC increased its position in Ibotta by 40,800.0% during the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after acquiring an additional 816 shares during the period. Meeder Asset Management Inc. bought a new stake in Ibotta in the 1st quarter valued at $39,000. New York State Teachers Retirement System bought a new stake in Ibotta in the 1st quarter valued at $39,000. Quantbot Technologies LP acquired a new stake in Ibotta in the 2nd quarter worth $66,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Ibotta by 187.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock worth $41,000 after purchasing an additional 1,185 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.