Luke Roy Swanson Sells 5,940 Shares of Ibotta (NYSE:IBTA) Stock

Ibotta, Inc. (NYSE:IBTA) CTO Luke Roy Swanson sold 5,940 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $24.47, for a total value of $145,351.80. Following the completion of the sale, the chief technology officer directly owned 483,964 shares of the company’s stock, valued at $11,842,599.08. This trade represents a 1.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Luke Roy Swanson also recently made the following trade(s):

• On Wednesday, July 1st, Luke Roy Swanson sold 5,940 shares of Ibotta stock. The stock was sold at an average price of $35.14, for a total value of $208,731.60.
• 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 Trading Up 1.3%

NYSE IBTA opened at $35.77 on Friday. The company has a fifty day simple moving average of $31.47 and a 200 day simple moving average of $29.18. Ibotta, Inc. has a 12-month low of $19.10 and a 12-month high of $40.49. The company has a market cap of $722.55 million, a P/E ratio of -76.10 and a beta of -0.44.

Ibotta (NYSE:IBTA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.45. Ibotta had a negative net margin of 3.21% and a negative return on equity of 4.74%. The firm had revenue of $82.48 million for the quarter. During the same quarter in the previous year, the company posted $0.02 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. Sell-side analysts predict that Ibotta, Inc. will post 0.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IBTA shares. Zacks Research upgraded shares of Ibotta from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Wells Fargo & Company lifted their price target on Ibotta from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday. UBS Group increased their price objective on Ibotta from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday. Evercore set a $42.00 target price on Ibotta in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Ibotta currently has a consensus rating of “Reduce” and an average target price of $36.50.

Hedge Funds Weigh In On Ibotta

A number of hedge funds and other institutional investors have recently modified their holdings of IBTA. Deutsche Bank AG raised its stake in shares of Ibotta by 3,449.8% during the 4th quarter. Deutsche Bank AG now owns 369,890 shares of the company’s stock worth $8,408,000 after purchasing an additional 359,470 shares during the period. Vanguard Group Inc. grew its position in Ibotta by 17.3% during the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock valued at $43,749,000 after buying an additional 232,027 shares during the period. Marshall Wace LLP purchased a new stake in Ibotta during the second quarter worth about $8,397,000. Hsbc Holdings PLC increased its holdings in Ibotta by 29.4% during the fourth quarter. Hsbc Holdings PLC now owns 993,977 shares of the company’s stock worth $22,210,000 after buying an additional 226,021 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Ibotta by 933.0% in the fourth quarter. Jane Street Group LLC now owns 224,529 shares of the company’s stock worth $5,104,000 after acquiring an additional 202,793 shares during the period.

Ibotta Company Profile

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.