Luke Roy Swanson Sells 600 Shares of Ibotta (NYSE:IBTA) Stock

Ibotta, Inc. (NYSE:IBTA) CTO Luke Roy Swanson sold 600 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $39.90, for a total value of $23,940.00. Following the completion of the transaction, the chief technology officer directly owned 205,600 shares in the company, valued at $8,203,440. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 Friday, August 7th, Luke Roy Swanson sold 200 shares of Ibotta stock. The stock was sold at an average price of $39.91, for a total value of $7,982.00.
• On Monday, August 3rd, Luke Roy 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.
• On Wednesday, July 1st, Luke Roy Swanson sold 5,940 shares of Ibotta stock. The shares were sold at an average price of $35.14, for a total value of $208,731.60.
• On Thursday, June 4th, Luke Roy Swanson sold 5,940 shares of Ibotta stock. The stock was sold at an average price of $32.98, for a total value of $195,901.20.

Ibotta Price Performance

NYSE IBTA traded up $0.23 on Tuesday, reaching $36.42. The company had a trading volume of 263,814 shares, compared to its average volume of 263,154. Ibotta, Inc. has a 1 year low of $19.10 and a 1 year high of $40.49. The firm has a 50-day moving average of $31.58 and a 200-day moving average of $29.38. The firm has a market capitalization of $735.68 million, a PE ratio of -77.49 and a beta of -0.43.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Essential Partners LLC raised 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 in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Ibotta during the first quarter worth about $39,000. New York State Teachers Retirement System acquired a new position in Ibotta in the first quarter worth about $39,000. Quantbot Technologies LP acquired a new position in Ibotta in the second quarter worth about $66,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Ibotta by 187.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock valued at $41,000 after buying an additional 1,185 shares during the last quarter.

Wall Street Analyst Weigh In

IBTA has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of Ibotta from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a report on Wednesday, June 24th. Needham & Company LLC restated a “buy” rating and set a $45.00 target price on shares of Ibotta in a research note on Tuesday, August 4th. Wall Street Zen upgraded Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Evercore set a $42.00 price objective on Ibotta in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $36.50.

About Ibotta

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.