Insider Selling: Ibotta (NYSE:IBTA) CTO Sells $452,933.25 in Stock

Ibotta, Inc. (NYSE:IBTA) CTO Luke Swanson sold 9,075 shares of the firm’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $49.91, for a total transaction of $452,933.25. Following the transaction, the chief technology officer directly owned 229,867 shares of the company’s stock, valued at approximately $11,472,661.97. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 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 value of $174,060.64.
• On Thursday, October 22nd, Luke Swanson sold 3,695 shares of Ibotta stock. The shares were sold at an average price of $49.97, for a total value of $184,639.15.
• On Wednesday, October 21st, Luke Swanson sold 8,764 shares of Ibotta stock. The shares were sold at an average price of $49.92, for a total value 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 value 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 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 stock was 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 stock was 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 Trading Down 0.7%

Shares of NYSE:IBTA traded down $0.35 on Friday, hitting $48.55. The company had a trading volume of 185,573 shares, compared to its average volume of 254,327. The company has a market cap 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. The business has a 50 day moving average of $40.88 and a 200 day moving average of $35.59.

Institutional Investors Weigh In On Ibotta

A number of institutional investors have recently added to or reduced their stakes in IBTA. Hsbc Holdings PLC increased its stake in Ibotta by 29.4% during the fourth quarter. Hsbc Holdings PLC now owns 993,977 shares of the company’s stock worth $22,210,000 after acquiring an additional 226,021 shares during the last quarter. Bank of America Corp DE grew its holdings 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 worth $7,168,000 after purchasing an additional 36,223 shares during the period. Renaissance Technologies LLC increased its position in Ibotta by 17.7% during the 1st quarter. Renaissance Technologies LLC now owns 239,300 shares of the company’s stock worth $7,172,000 after purchasing an additional 35,992 shares in the last quarter. Sei Investments Co. acquired a new position in Ibotta during the first quarter valued at approximately $344,000. Finally, Engineers Gate Manager LP acquired a new position in Ibotta during the second quarter valued at approximately $328,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IBTA. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a research note on Monday, September 21st. Wells Fargo & Company lifted their target price on shares of Ibotta from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. UBS Group boosted their price target on Ibotta from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Evercore set a $42.00 price target on Ibotta in a research note on Tuesday, August 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Ibotta in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $36.50.

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.