Ibotta (NYSE:IBTA) Insider Marisa Daspit Sells 499 Shares of Company Stock

Ibotta, Inc. (NYSE:IBTA) insider Marisa Daspit sold 499 shares of the company’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $50.15, for a total transaction of $25,024.85. Following the completion of the transaction, the insider owned 116,505 shares in the company, valued at approximately $5,842,725.75. The trade was a 0.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, October 21st, Marisa Daspit sold 247 shares of Ibotta stock. The shares were 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 shares were 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 Stock Performance

Shares of Ibotta stock opened at $48.55 on Friday. The company has a 50-day simple moving average of $41.08 and a two-hundred day simple moving average of $35.68. The stock has a market capitalization of $980.71 million, a PE ratio of -103.30 and a beta of -0.29. Ibotta, Inc. has a 52-week low of $19.10 and a 52-week high of $50.53.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IBTA shares. Wells Fargo & Company boosted their price objective on shares of Ibotta from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 4th. The Goldman Sachs Group increased their target price on Ibotta from $28.00 to $32.00 and gave the company a “sell” rating in a research note on Tuesday, August 4th. Evercore set a $42.00 target price on Ibotta in a report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a report on Monday, September 21st. Finally, 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. One 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $36.50.

Institutional Investors Weigh In On Ibotta

Hedge funds have recently added to or reduced their stakes in the stock. Essential Partners LLC boosted its stake in shares of Ibotta by 40,800.0% in the 1st quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after buying an additional 816 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Ibotta during the first quarter valued at $39,000. New York State Teachers Retirement System purchased a new stake in Ibotta during the first quarter valued at $39,000. State of Alaska Department of Revenue boosted its position in Ibotta by 32.9% in the third quarter. State of Alaska Department of Revenue now owns 1,083 shares of the company’s stock worth $42,000 after purchasing an additional 268 shares during the last quarter. Finally, 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.

Ibotta News Summary

Here are the key news stories impacting Ibotta this week:

• Neutral Sentiment: All reported transactions were executed under pre-arranged Rule 10b5-1 trading plans, which reduces their significance as a discretionary signal that executives expect the stock to fall. CTO Luke Swanson and insider Marisa Daspit continue to own substantial positions. SEC Form 4 filing
• Negative Sentiment: CTO Luke Swanson sold a combined 25,018 shares in four transactions on October 21 and 22 for approximately $1.25 million. Although the sales reduced his holdings by relatively small percentages, repeated selling by a senior technology executive may weigh on sentiment and reinforce concerns about insider profit-taking. Luke Swanson SEC Form 4 filing
• Negative Sentiment: Marisa Daspit sold an additional 746 shares for approximately $37,375 across two transactions. The sales were small relative to her remaining stake, but the filings add to the overall pattern of insider selling in Ibotta stock. Marisa Daspit SEC Form 4 filing

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.