Key Points
- Ibotta CTO Luke Roy Swanson sold 5,940 shares on July 1 at an average price of $35.14, totaling about $208,732. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Swanson still owned 489,904 shares valued at roughly $17.2 million, and the sale reduced his stake by 1.20%. He also sold the same number of shares in a prior transaction on June 4.
- Ibotta’s latest earnings beat expectations, with EPS of $0.24 versus estimates for a loss, while revenue came in at $82.48 million and declined 2.5% year over year. The company has also authorized a $100 million stock buyback, though analysts currently rate the stock cautiously overall.
Ibotta, Inc. (NYSE:IBTA - Get Free Report) CTO Luke Roy Swanson sold 5,940 shares of the business's stock in a transaction 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 transaction, the chief technology officer owned 489,904 shares of the company's stock, valued at $17,215,226.56. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 value of $195,901.20.
Ibotta Stock Performance
IBTA opened at $32.94 on Tuesday. Ibotta, Inc. has a 12 month low of $19.10 and a 12 month high of $41.14. The business has a 50-day moving average of $33.26 and a two-hundred day moving average of $27.96.
Ibotta (NYSE:IBTA - Get Free Report) last released its earnings results 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 firm had revenue of $82.48 million during the quarter. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Ibotta's revenue for the quarter was down 2.5% compared to the same quarter last year. Research analysts predict that Ibotta, Inc. will post 0.24 EPS for the current fiscal year.
Ibotta announced that its Board of Directors has initiated a stock buyback plan on Wednesday, March 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 21.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.
Analysts Set New Price Targets
A number of analysts have recently issued reports on IBTA shares. Evercore set a $40.00 target price on Ibotta in a report on Thursday, May 7th. Zacks Research upgraded shares of Ibotta from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Needham & Company LLC boosted their price objective on shares of Ibotta from $33.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Wells Fargo & Company raised their target price 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. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ibotta in a research report on Wednesday, June 24th. One 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. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $33.00.
Check Out Our Latest Research Report on Ibotta
Hedge Funds Weigh In On Ibotta
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Essential Partners LLC boosted its stake in shares of Ibotta by 40,800.0% in the first quarter. Essential Partners LLC now owns 818 shares of the company's stock valued at $25,000 after purchasing an additional 816 shares during the period. Bank of America Corp DE grew its stake in Ibotta by 17.8% during the 1st quarter. Bank of America Corp DE now owns 239,167 shares of the company's stock valued at $7,168,000 after purchasing an additional 36,223 shares in the last quarter. Renaissance Technologies LLC increased its holdings 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 during the last quarter. Sei Investments Co. purchased a new position in shares of Ibotta during the 1st quarter valued at approximately $344,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Ibotta during the 1st quarter valued at approximately $39,000.
About Ibotta
(
Get Free Report)
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.
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