Ibotta (NYSE:IBTA) CTO Luke Roy Swanson Sells 5,940 Shares

Ibotta, Inc. (NYSE:IBTA) CTO Luke Roy Swanson sold 5,940 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $32.98, for a total transaction of $195,901.20. Following the transaction, the chief technology officer directly owned 495,844 shares in the company, valued at approximately $16,352,935.12. The trade was a 1.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ibotta Trading Down 2.0%

Shares of IBTA stock opened at $32.20 on Tuesday. Ibotta, Inc. has a 1 year low of $19.10 and a 1 year high of $50.01. The firm’s fifty day simple moving average is $33.42 and its 200 day simple moving average is $26.61. The firm has a market capitalization of $650.44 million, a P/E ratio of -94.71 and a beta of -0.59.

Ibotta (NYSE:IBTA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.45. The business had revenue of $82.48 million for the quarter. Ibotta had a negative net margin of 2.15% and a negative return on equity of 2.39%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.02 EPS. Equities research analysts anticipate that Ibotta, Inc. will post 0.24 EPS for the current fiscal year.

Ibotta announced that its Board of Directors has approved a share repurchase plan on Wednesday, March 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 21.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IBTA shares. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a research note on Friday, March 27th. Zacks Research cut Ibotta from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Needham & Company LLC increased their target price on Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen raised Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Evercore set a $40.00 target price on Ibotta in a research note on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $33.00.

Hedge Funds Weigh In On Ibotta

A number of large investors have recently bought and sold shares of IBTA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ibotta by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock worth $396,000 after acquiring an additional 515 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Ibotta in the 1st quarter valued at approximately $161,000. Goldman Sachs Group Inc. boosted its holdings in shares of Ibotta by 16.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 122,514 shares of the company’s stock valued at $5,170,000 after buying an additional 17,421 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Ibotta by 43.5% in the 2nd quarter. Legal & General Group Plc now owns 12,349 shares of the company’s stock valued at $452,000 after buying an additional 3,746 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Ibotta in the 2nd quarter valued at approximately $781,000.

Ibotta Company Profile

Ibotta (NYSE: IBTA) is a Denver?based mobile commerce platform that connects consumers, retailers and brands through a unified cash-back rewards experience. Users access the Ibotta mobile app or browser extension to unlock rebates on everyday purchases, redeemable on groceries, retail goods, travel bookings and digital services. The platform integrates with major supermarket chains, big?box retailers and online merchants, enabling shoppers to earn automatic cash-back both in physical stores and across e-commerce channels.

Founded in 2012 by co?founder and CEO Bryan Leach, Ibotta has evolved from a simple rebate app into a comprehensive performance marketing partner for consumer goods companies.