Ibotta (NYSE:IBTA) Stock: Insider Luke Roy Swanson Sells 3,695 Shares

Ibotta, Inc. (NYSE:IBTA) CTO Luke Swanson sold 3,695 shares of the business’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $49.97, for a total transaction of $184,639.15. Following the transaction, the chief technology officer owned 431,233 shares in the company, valued at approximately $21,548,713.01. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 Thursday, October 22nd, Luke Swanson sold 3,484 shares of Ibotta stock. The shares were sold at an average price of $49.96, for a total transaction of $174,060.64.
• On Wednesday, October 21st, Luke Swanson sold 9,075 shares of Ibotta stock. The shares were sold at an average price of $49.91, for a total transaction of $452,933.25.
• On Wednesday, October 21st, Luke Swanson sold 8,764 shares of Ibotta stock. The stock was sold at an average price of $49.92, for a total transaction of $437,498.88.
• On Thursday, October 1st, Luke Swanson sold 5,940 shares of Ibotta stock. The stock was sold at an average price of $39.79, for a total transaction of $236,352.60.
• 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 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 shares were sold at an average price of $24.47, for a total value of $145,351.80.

Ibotta Stock Down 0.7%

Ibotta stock traded down $0.35 during mid-day trading on Friday, reaching $48.55. 185,573 shares of the company’s stock were exchanged, compared to its average volume of 254,327. The business’s fifty day simple moving average is $40.88 and its 200 day simple moving average is $35.59. The firm has a market capitalization of $980.71 million, a PE ratio of -103.30 and a beta of -0.29. Ibotta, Inc. has a one year low of $19.10 and a one year high of $50.53.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of Ibotta in a research report on Tuesday, August 4th. Wells Fargo & Company lifted their target price on Ibotta from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a report on Monday, September 21st. The Goldman Sachs Group increased their price target on shares of Ibotta from $28.00 to $32.00 and gave the company a “sell” rating in a research report on Tuesday, August 4th. Finally, Evercore set a $42.00 price target on shares of Ibotta in a research report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ibotta currently has a consensus rating of “Reduce” and a consensus target price of $36.50.

Hedge Funds Weigh In On Ibotta

Several large investors have recently modified their holdings of IBTA. Hsbc Holdings PLC raised its position in shares of Ibotta by 1.5% in the first quarter. Hsbc Holdings PLC now owns 1,009,287 shares of the company’s stock valued at $30,581,000 after purchasing an additional 15,310 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Ibotta by 17.7% during the 1st quarter. Renaissance Technologies LLC now owns 239,300 shares of the company’s stock valued at $7,172,000 after buying an additional 35,992 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Ibotta by 17.8% during the 1st quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock valued at $7,168,000 after buying an additional 36,223 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Ibotta during the 1st quarter valued at approximately $344,000. Finally, Engineers Gate Manager LP bought a new position in Ibotta in the 2nd quarter worth approximately $328,000.

About Ibotta

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.