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

Ibotta, Inc. (NYSE:IBTA) CTO Luke Swanson sold 20,100 shares of Ibotta stock in a transaction that occurred on Thursday, September 10th. The shares were 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. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 stock was 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 shares were sold at an average price of $39.91, for a total value of $7,982.00.
• On Monday, August 3rd, Luke Swanson sold 5,940 shares of Ibotta stock. The stock was sold at an average price of $24.47, for a total value 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 value of $208,731.60.

Ibotta Stock Up 3.4%

Shares of NYSE:IBTA traded up $1.39 during midday trading on Monday, reaching $42.53. The company’s stock had a trading volume of 192,777 shares, compared to its average volume of 255,070. The firm has a 50 day moving average of $34.05 and a 200-day moving average of $32.15. The firm has a market capitalization of $859.11 million, a P/E ratio of -90.49 and a beta of -0.25. Ibotta, Inc. has a 12-month low of $19.10 and a 12-month high of $43.43.

Hedge Funds Weigh In On Ibotta

A number of hedge funds have recently added to or reduced their stakes in the company. Essential Partners LLC grew 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 worth $25,000 after acquiring an additional 816 shares during the period. Meeder Asset Management Inc. bought a new position in Ibotta in the first quarter valued at about $39,000. New York State Teachers Retirement System purchased a new position in Ibotta in the first quarter worth about $39,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Ibotta by 335.8% during 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 period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Ibotta during the 2nd quarter valued at about $290,000.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Ibotta from $28.00 to $32.00 and gave the company a “sell” rating in a research note on Tuesday, August 4th. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Ibotta in a research note on Tuesday, August 4th. Zacks Research raised Ibotta from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Wells Fargo & Company lifted their price objective on Ibotta from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $36.50.

Ibotta Company Profile

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.