Key Points
- Insider Marisa Daspit sold 499 Ibotta shares at an average price of $50.15, worth $25,024.85, reducing her ownership by 0.43% to 116,505 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
- The sale adds to a broader pattern of insider selling, including Daspit’s recent disposal of 746 additional shares and CTO Luke Swanson’s sale of approximately 25,018 shares for about $1.25 million.
- Ibotta shares opened at $48.55, near their 52-week high of $50.53, while Wall Street’s consensus rating remains “Reduce” with an average price target of $36.50.
Ibotta, Inc. (NYSE:IBTA - Get Free Report) insider Marisa Daspit sold 247 shares of the business's stock in a transaction that occurred on Wednesday, October 21st. The stock was 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 Securities & Exchange Commission, which is available at this link. 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 stock was sold at an average price of $50.15, for a total value 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 value 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 value of $63,361.12.
Ibotta Price Performance
IBTA traded down $0.35 during trading on Friday, reaching $48.55. 188,192 shares of the stock were exchanged, compared to its average volume of 271,505. The company has a market capitalization of $980.71 million, a price-to-earnings ratio of -103.30 and a beta of -0.29. Ibotta, Inc. has a 1 year low of $19.10 and a 1 year high of $50.53. The business's 50 day moving average price is $41.08 and its two-hundred day moving average price is $35.68.
Hedge Funds Weigh In On Ibotta
Institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC lifted its position in shares of Ibotta by 29.4% in the fourth quarter. Hsbc Holdings PLC now owns 993,977 shares of the company's stock valued at $22,210,000 after acquiring an additional 226,021 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Ibotta by 17.8% during the first quarter. Bank of America Corp DE now owns 239,167 shares of the company's stock valued at $7,168,000 after acquiring an additional 36,223 shares during the last quarter. 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 worth $7,172,000 after purchasing an additional 35,992 shares in the last quarter. Sei Investments Co. purchased a new stake in Ibotta during the 1st quarter worth about $344,000. Finally, Engineers Gate Manager LP purchased a new stake in Ibotta during the 2nd quarter worth about $328,000.
Analyst Upgrades and Downgrades
IBTA has been the topic of several recent research reports. UBS Group boosted their price objective on shares of Ibotta from $30.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Wells Fargo & Company raised their target price on shares of Ibotta from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Tuesday, August 4th. Weiss Ratings restated a "sell (d)" rating on shares of Ibotta in a research report on Monday, September 21st. Evercore set a $42.00 price target on shares of Ibotta in a report on Tuesday, August 4th. Finally, The Goldman Sachs Group increased their price target on shares of Ibotta from $28.00 to $32.00 and gave the company a "sell" rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $36.50.
Check Out Our Latest Stock Analysis on Ibotta
Ibotta News Summary
Here are the key news stories impacting Ibotta this week:
- Neutral Sentiment: All reported transactions were executed under pre-arranged Rule 10b5-1 trading plans, which reduces their significance as a discretionary signal that executives expect the stock to fall. CTO Luke Swanson and insider Marisa Daspit continue to own substantial positions. SEC Form 4 filing
- Negative Sentiment: CTO Luke Swanson sold a combined 25,018 shares in four transactions on October 21 and 22 for approximately $1.25 million. Although the sales reduced his holdings by relatively small percentages, repeated selling by a senior technology executive may weigh on sentiment and reinforce concerns about insider profit-taking. Luke Swanson SEC Form 4 filing
- Negative Sentiment: Marisa Daspit sold an additional 746 shares for approximately $37,375 across two transactions. The sales were small relative to her remaining stake, but the filings add to the overall pattern of insider selling in Ibotta stock. Marisa Daspit SEC Form 4 filing
Ibotta Company Profile
(
Get Free Report)
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.
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