Insider Selling: Ibotta (NYSE:IBTA) Insider Sells 247 Shares of Stock

Ibotta, Inc. (NYSE:IBTA) insider Marisa Daspit sold 247 shares of the stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $50.00, for a total value of $12,350.00. Following the sale, the insider directly owned 117,004 shares in the company, valued at $5,850,200. This trade represents a 0.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marisa Daspit also recently made the following trade(s):

• On Thursday, October 22nd, Marisa Daspit sold 499 shares of Ibotta stock. The shares were sold at an average price of $50.15, for a total transaction of $25,024.85.
• On Wednesday, September 2nd, Marisa Daspit sold 2,956 shares of Ibotta stock. The stock was sold at an average price of $37.46, for a total transaction of $110,731.76.
• On Tuesday, September 1st, Marisa Daspit sold 1,712 shares of Ibotta stock. The stock was sold at an average price of $37.01, for a total transaction of $63,361.12.

Ibotta Trading Down 0.7%

Shares of IBTA traded down $0.35 during midday trading on Friday, hitting $48.55. 185,573 shares of the company’s stock traded hands, compared to its average volume of 254,327. Ibotta, Inc. has a 1 year low of $19.10 and a 1 year high of $50.53. The firm’s fifty day moving average is $40.88 and its 200-day moving average is $35.59. The stock has a market capitalization of $980.71 million, a price-to-earnings ratio of -103.30 and a beta of -0.29.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IBTA shares. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a report on Monday, September 21st. The Goldman Sachs Group lifted their target price on shares of Ibotta from $28.00 to $32.00 and gave the stock a “sell” rating in a research note on Tuesday, August 4th. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Ibotta in a research report on Tuesday, August 4th. Evercore set a $42.00 price target on shares of Ibotta in a research note on Tuesday, August 4th. Finally, UBS Group raised their price target on shares of Ibotta from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Ibotta currently has a consensus rating of “Reduce” and a consensus price target of $36.50.

Institutional Trading of Ibotta

Several large investors have recently added to or reduced their stakes in IBTA. State of Alaska Department of Revenue increased its holdings in shares of Ibotta by 32.9% in the third quarter. State of Alaska Department of Revenue now owns 1,083 shares of the company’s stock valued at $42,000 after purchasing an additional 268 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Ibotta in the second quarter worth about $328,000. Squarepoint Ops LLC acquired a new stake in shares of Ibotta during the second quarter worth about $290,000. Essential Partners LLC lifted its holdings in shares of Ibotta by 40,800.0% during the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after purchasing an additional 816 shares during the period. Finally, Bank of America Corp DE boosted its position in Ibotta by 17.8% in the first quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock valued at $7,168,000 after buying an additional 36,223 shares during the last quarter.

Ibotta Company Profile

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.