Ibotta (NYSE:IBTA) CTO Luke Roy Swanson Sells 30,206 Shares of Company Stock

Ibotta, Inc. (NYSE:IBTA) CTO Luke Swanson sold 30,206 shares of Ibotta stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $62.20, for a total value of $1,878,813.20. Following the sale, the chief technology officer directly owned 186,146 shares of the company’s stock, valued at $11,578,281.20. This represents a 13.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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, November 3rd, Luke Swanson sold 3,094 shares of Ibotta stock. The shares were sold at an average price of $59.90, for a total transaction of $185,330.60.
• On Monday, November 2nd, Luke Swanson sold 10,031 shares of Ibotta stock. The shares were sold at an average price of $49.55, for a total transaction of $497,036.05.
• On Monday, November 2nd, Luke Swanson sold 10,131 shares of Ibotta stock. The shares were sold at an average price of $49.60, for a total transaction of $502,497.60.
• On Thursday, October 22nd, Luke Swanson sold 3,484 shares of Ibotta stock. The stock was sold at an average price of $49.96, for a total transaction of $174,060.64.
• On Thursday, October 22nd, Luke Swanson sold 3,695 shares of Ibotta stock. The stock was sold at an average price of $49.97, for a total transaction of $184,639.15.
• On Wednesday, October 21st, Luke Swanson sold 9,075 shares of Ibotta stock. The stock was 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 shares were 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 shares were sold at an average price of $40.04, for a total transaction 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 transaction of $219,542.40.

Ibotta Stock Up 3.6%

Shares of NYSE:IBTA opened at $62.52 on Thursday. Ibotta, Inc. has a 12-month low of $19.10 and a 12-month high of $66.39. The company’s 50 day moving average price is $43.40 and its two-hundred day moving average price is $33.24. The firm has a market cap of $1.26 billion, a PE ratio of -93.31 and a beta of -0.46.

Ibotta (NYSE:IBTA) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.49. The company had revenue of $97.83 million during the quarter. Ibotta had a negative net margin of 4.49% and a negative return on equity of 5.40%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. On average, research analysts expect that Ibotta, Inc. will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Ibotta

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Essential Partners LLC increased 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 valued at $25,000 after purchasing an additional 816 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Ibotta during the 1st quarter worth $39,000. New York State Teachers Retirement System bought a new stake in shares of Ibotta during the 1st quarter worth $39,000. State of Alaska Department of Revenue boosted its stake 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 valued at $42,000 after buying an additional 268 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Ibotta in the second quarter valued at about $290,000.

Trending Headlines about 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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IBTA shares. Wells Fargo & Company raised their price objective on Ibotta from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Citigroup upped their target price on Ibotta from $34.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday. UBS Group increased their target price 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 $58.00 target price on Ibotta in a report on Tuesday. Finally, Needham & Company LLC raised their price target on Ibotta from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Ibotta presently has an average rating of “Reduce” and a consensus target price of $50.00.

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.