Ibotta (NYSE:IBTA) Insider Marisa Daspit Sells 720 Shares of Company Stock

Ibotta, Inc. (NYSE:IBTA) insider Marisa Daspit sold 720 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $50.01, for a total transaction of $36,007.20. Following the completion of the transaction, the insider directly owned 115,539 shares of the company’s stock, valued at approximately $5,778,105.39. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marisa Daspit also recently made the following trade(s):

• On Friday, October 30th, Marisa Daspit sold 102 shares of Ibotta stock. The stock was sold at an average price of $50.08, for a total value of $5,108.16.
• On Thursday, October 29th, Marisa Daspit sold 144 shares of Ibotta stock. The shares were sold at an average price of $50.00, for a total transaction of $7,200.00.
• On Thursday, October 22nd, Marisa Daspit sold 499 shares of Ibotta stock. The shares were sold at an average price of $50.15, for a total transaction of $25,024.85.
• On Wednesday, October 21st, Marisa Daspit sold 247 shares of Ibotta stock. The stock was sold at an average price of $50.00, for a total transaction of $12,350.00.
• On Wednesday, September 2nd, Marisa Daspit sold 2,956 shares of Ibotta stock. The stock was sold at an average price of $37.46, for a total transaction of $110,731.76.
• On Tuesday, September 1st, Marisa Daspit sold 1,712 shares of Ibotta stock. The stock was sold at an average price of $37.01, for a total transaction of $63,361.12.

Ibotta Trading Up 3.6%

IBTA stock opened at $62.52 on Thursday. The stock has a market cap of $1.26 billion, a PE ratio of -93.31 and a beta of -0.46. Ibotta, Inc. has a 12 month low of $19.10 and a 12 month high of $66.39. The company has a 50-day moving average price of $43.40 and a 200 day moving average price of $33.24.

Ibotta (NYSE:IBTA) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.49. The company had revenue of $97.83 million for the quarter. Ibotta had a negative net margin of 4.49% and a negative return on equity of 5.40%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. Sell-side analysts forecast that Ibotta, Inc. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IBTA shares. UBS Group increased their price target on Ibotta from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. The Goldman Sachs Group upgraded Ibotta from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $35.00 to $58.00 in a report on Tuesday. Citigroup upped their price objective on Ibotta from $34.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday. Needham & Company LLC upped their price objective on Ibotta from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company increased their target price on Ibotta from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Ibotta has a consensus rating of “Reduce” and a consensus target price of $50.00.

Key Headlines Impacting Ibotta

Here are the key news stories impacting Ibotta this week:

• Positive Sentiment: Strong Q3 results: Revenue rose 17.4% year over year to $97.83 million, while adjusted earnings of $0.62 per share exceeded estimates. Third-party publisher redemption revenue increased 43%, pointing to a recovery in a key growth channel. Article: Ibotta beats Q3 earnings and revenue estimates
• Positive Sentiment: Q4 outlook topped expectations: Ibotta guided to revenue of $94 million–$98 million, above the $93.3 million consensus estimate. Article: Why Ibotta rallied
• Neutral Sentiment: Analyst views improved, but targets are below the stock’s recent level: Goldman Sachs upgraded Ibotta from Sell to Neutral and raised its target to $58; Citigroup raised its target to $60 but maintained a Neutral rating. The upgrades and target increases are constructive, while the targets imply limited near-term upside at the current price. Article: Goldman Sachs upgrades Ibotta to Neutral
• Negative Sentiment: Insider selling: CTO Luke Swanson and another insider reported share sales. The transactions were made under pre-arranged Rule 10b5-1 plans, which may reduce their significance as a signal about near-term business prospects. SEC insider transaction filing

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Essential Partners LLC raised its position in Ibotta by 40,800.0% during the 1st quarter. Essential Partners LLC now owns 818 shares of the company’s stock valued at $25,000 after purchasing an additional 816 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Ibotta by 32.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 1,083 shares of the company’s stock worth $42,000 after buying an additional 268 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Ibotta during the 1st quarter worth $39,000. New York State Teachers Retirement System bought a new position in shares of Ibotta during the 1st quarter worth $39,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Ibotta during the second quarter valued at $290,000.

Ibotta Company Profile

Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Through its Ibotta app and website, consumers can earn cash back and other rewards by purchasing eligible products from participating retailers. The company’s offerings are designed to help brands and retailers deliver targeted promotions, measure consumer engagement and encourage purchases.

Ibotta also provides its technology to retailers, publishers and other business partners through the Ibotta Performance Network.