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

Ibotta, Inc. (NYSE:IBTA) CTO Luke Roy Swanson sold 5,940 shares of the stock in a transaction on Thursday, June 4th. The stock was 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. This represents a 1.18% decrease in their ownership of the stock. 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.

Ibotta Trading Down 2.0%

NYSE IBTA traded down $0.65 on Monday, hitting $32.20. 141,631 shares of the company were exchanged, compared to its average volume of 276,762. The company has a market cap of $650.38 million, a PE ratio of -94.71 and a beta of -0.59. Ibotta, Inc. has a 12 month low of $19.10 and a 12 month high of $50.01. The stock has a fifty day moving average of $33.37 and a 200-day moving average of $26.56.

Ibotta (NYSE:IBTA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.45. Ibotta had a negative net margin of 2.15% and a negative return on equity of 2.39%. The firm had revenue of $82.48 million for the quarter. During the same period last year, the business posted $0.02 earnings per share. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. On average, analysts expect that Ibotta, Inc. will post 0.24 earnings per share for the current year.

Ibotta declared that its board has authorized a share repurchase plan on Wednesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 21.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

IBTA has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on shares of Ibotta from $34.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Needham & Company LLC raised their price objective on shares of Ibotta from $33.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research lowered shares of Ibotta from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Evercore set a $40.00 price objective on shares of Ibotta in a research note on Thursday, May 7th. Finally, Wall Street Zen raised shares of Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $33.00.

Institutional Trading of Ibotta

Several institutional investors and hedge funds have recently made changes to their positions in IBTA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ibotta by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock valued at $396,000 after purchasing an additional 515 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Ibotta in the first quarter valued at about $161,000. Goldman Sachs Group Inc. raised its holdings in shares of Ibotta by 16.6% in the first quarter. Goldman Sachs Group Inc. now owns 122,514 shares of the company’s stock valued at $5,170,000 after purchasing an additional 17,421 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Ibotta by 43.5% in the second quarter. Legal & General Group Plc now owns 12,349 shares of the company’s stock valued at $452,000 after purchasing an additional 3,746 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Ibotta in the second quarter valued at about $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.