Key Points
- Ibotta CTO Luke Roy Swanson sold 5,940 shares at an average price of $39.79, generating $236,352.60. The Rule 10b5-1 transaction reduced his ownership by 1.32%, leaving him with 443,692 shares.
- IBTA shares opened at $41.35, near their 12-month high of $43.43, while the company’s market capitalization stood at approximately $835 million.
- Analyst sentiment remains cautious: MarketBeat reports an average rating of “Reduce” and an average price target of $36.50, despite some analysts maintaining Buy or Hold ratings.
Ibotta, Inc. (NYSE:IBTA - Get Free Report) CTO Luke Swanson sold 5,940 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $39.79, for a total value of $236,352.60. Following the sale, the chief technology officer owned 443,692 shares in the company, valued at approximately $17,654,504.68. This trade represents a 1.32% 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 link. 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, September 10th, Luke Swanson sold 20,100 shares of Ibotta stock. The stock was sold at an average price of $40.04, for a total value of $804,804.00.
- 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 value of $219,542.40.
- On Friday, August 7th, Luke Swanson sold 600 shares of Ibotta stock. The shares were sold at an average price of $39.90, for a total value 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 value of $7,982.00.
- On Monday, August 3rd, Luke Swanson sold 5,940 shares of Ibotta stock. The shares were sold at an average price of $24.47, for a total transaction of $145,351.80.
Ibotta Trading Down 0.6%
Shares of IBTA opened at $41.35 on Tuesday. Ibotta, Inc. has a twelve month low of $19.10 and a twelve month high of $43.43. The company has a market cap of $835.27 million, a P/E ratio of -87.98 and a beta of -0.29. The company's fifty day simple moving average is $37.51 and its 200-day simple moving average is $34.11.
Institutional Trading of Ibotta
Several institutional investors and hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP purchased a new stake in shares of Ibotta in the 2nd quarter worth $328,000. Squarepoint Ops LLC purchased a new stake in Ibotta in the second quarter worth about $290,000. Essential Partners LLC grew its holdings 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 acquiring an additional 816 shares in the last quarter. Bank of America Corp DE grew its holdings in Ibotta by 17.8% during the 1st quarter. Bank of America Corp DE now owns 239,167 shares of the company's stock worth $7,168,000 after acquiring an additional 36,223 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Ibotta by 17.7% during the 1st quarter. Renaissance Technologies LLC now owns 239,300 shares of the company's stock valued at $7,172,000 after purchasing an additional 35,992 shares during the period.
Analysts Set New Price Targets
A number of analysts recently weighed in on IBTA shares. Evercore set a $42.00 price objective on shares of Ibotta in a research report on Tuesday, August 4th. Needham & Company LLC restated a "buy" rating and set a $45.00 target price on shares of Ibotta in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ibotta in a research note on Monday, September 21st. The Goldman Sachs Group increased their price target on Ibotta from $28.00 to $32.00 and gave the stock a "sell" rating in a report on Tuesday, August 4th. Finally, UBS Group raised their price target on Ibotta from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $36.50.
Check Out Our Latest Stock Report on IBTA
About Ibotta
(
Get Free Report)
Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Its services help consumers earn cash back and other incentives by engaging with offers from consumer packaged goods brands and retailers.
The company's platform is available through the Ibotta mobile application, website, and integrated retail and digital-commerce experiences. Users can browse eligible offers, make qualifying purchases, and receive rewards after submitting proof of purchase or linking eligible loyalty accounts.
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