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

Ibotta, Inc. (NYSE:IBTA) CTO Luke Roy Swanson sold 5,940 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $35.14, for a total value of $208,731.60. Following the completion of the sale, the chief technology officer directly owned 489,904 shares of the company’s stock, valued at approximately $17,215,226.56. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 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 transaction of $195,901.20.

Ibotta Price Performance

Ibotta stock traded down $2.63 during midday trading on Monday, hitting $32.94. The company’s stock had a trading volume of 180,149 shares, compared to its average volume of 261,700. The company has a market cap of $665.32 million, a price-to-earnings ratio of -96.88 and a beta of -0.59. Ibotta, Inc. has a 1-year low of $19.10 and a 1-year high of $41.14. The company has a 50-day moving average price of $33.31 and a two-hundred day moving average price of $27.88.

Ibotta (NYSE:IBTA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 earnings per share (EPS) 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 business had revenue of $82.48 million for the quarter. During the same period last year, the business earned $0.02 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. Sell-side analysts forecast that Ibotta, Inc. will post 0.24 EPS for the current year.

Ibotta announced that its board has initiated a stock buyback program on Wednesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 21.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have commented on IBTA shares. Zacks Research upgraded shares of Ibotta from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Wells Fargo & Company raised their target price on Ibotta from $34.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Wall Street Zen raised shares of Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a research report on Wednesday, June 24th. Finally, Evercore set a $40.00 price target on Ibotta in a research report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $33.00.

Hedge Funds Weigh In On Ibotta

A number of institutional investors have recently added to or reduced their stakes in IBTA. Essential Partners LLC boosted its stake in shares of Ibotta by 40,800.0% during the 1st quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after acquiring an additional 816 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Ibotta during the first quarter worth about $39,000. New York State Teachers Retirement System bought a new stake in shares of Ibotta in the first quarter valued at about $39,000. Caitong International Asset Management Co. Ltd grew its stake 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 purchasing an additional 1,185 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Ibotta by 47,920.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock worth $55,000 after acquiring an additional 2,396 shares during the last quarter.

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.