Key Points
- Ibotta CTO Luke Swanson sold 20,100 shares at an average price of $40.04, generating $804,804 under a pre-arranged Rule 10b5-1 trading plan. He retained 446,032 shares, worth approximately $17.9 million.
- Ibotta shares opened at $42.53 and were up 3.4%, trading near their 52-week high of $43.43. The company has a market capitalization of about $859 million.
- Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $36.50; ratings include one Buy, four Holds, and three Sells.
Ibotta, Inc. (NYSE:IBTA - Get Free Report) CTO Luke Swanson sold 20,100 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $40.04, for a total transaction of $804,804.00. Following the transaction, the chief technology officer owned 446,032 shares in the company, valued at approximately $17,859,121.28. The trade was a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Tuesday, September 1st, Luke Swanson sold 5,940 shares of Ibotta stock. The shares were sold at an average price of $36.96, for a total transaction 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 transaction 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 transaction of $7,982.00.
- On Monday, August 3rd, Luke Swanson sold 5,940 shares of Ibotta stock. The stock was sold at an average price of $24.47, for a total transaction of $145,351.80.
- On Wednesday, July 1st, Luke Swanson sold 5,940 shares of Ibotta stock. The shares were sold at an average price of $35.14, for a total transaction of $208,731.60.
Ibotta Stock Up 3.4%
Shares of NYSE IBTA opened at $42.53 on Tuesday. The stock has a market capitalization of $859.02 million, a PE ratio of -90.49 and a beta of -0.25. The firm has a fifty day moving average of $34.24 and a 200-day moving average of $32.31. Ibotta, Inc. has a 52-week low of $19.10 and a 52-week high of $43.43.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. Wells Fargo & Company upped their price target on Ibotta from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 4th. Evercore set a $42.00 target price on Ibotta in a report on Tuesday, August 4th. The Goldman Sachs Group increased their target price on shares of Ibotta from $28.00 to $32.00 and gave the stock a "sell" rating in a research report on Tuesday, August 4th. Weiss Ratings restated a "sell (d)" rating on shares of Ibotta in a report on Wednesday, June 24th. Finally, UBS Group lifted their price target on shares of Ibotta from $30.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Ibotta presently has a consensus rating of "Reduce" and a consensus price target of $36.50.
Read Our Latest Stock Analysis on IBTA
Institutional Trading of Ibotta
A number of hedge funds have recently made changes to their positions in IBTA. Engineers Gate Manager LP acquired a new position in shares of Ibotta during the second quarter worth $328,000. Squarepoint Ops LLC acquired a new stake in Ibotta during the 2nd quarter valued at $290,000. California State Teachers Retirement System increased its stake in Ibotta by 6,672.2% during the 2nd quarter. California State Teachers Retirement System now owns 351,882 shares of the company's stock worth $12,020,000 after buying an additional 346,686 shares during the period. Essential Partners LLC increased its stake in 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 buying an additional 816 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Ibotta by 17.8% in the 1st quarter. Bank of America Corp DE now owns 239,167 shares of the company's stock worth $7,168,000 after buying an additional 36,223 shares in the last quarter.
Ibotta Company Profile
(
Get Free Report)
Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Its services connect consumers with cash-back offers on groceries, household products, apparel, electronics and other categories, while helping brands and retailers deliver targeted promotions and measure consumer engagement.
Consumers can access Ibotta offers through the company's mobile application and website, as well as through integrations with participating retailers and loyalty programs.
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