Ibotta (NYSE:IBTA) Shares Gap Down After Insider Selling

Ibotta, Inc. (NYSE:IBTA)’s share price gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $38.84, but opened at $36.09. Ibotta shares last traded at $36.09, with a volume of 3,362 shares changing hands.

Specifically, Director Thomas D. Lehrman sold 14,347 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $37.28, for a total transaction of $534,856.16. Following the completion of the sale, the director owned 16,490 shares in the company, valued at approximately $614,747.20. This trade represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas D. Lehrman sold 15,926 shares of Ibotta stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $37.37, for a total transaction of $595,154.62. Following the completion of the sale, the director directly owned 38,120 shares in the company, valued at approximately $1,424,544.40. This represents a 29.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In other Ibotta news, Director Thomas D. Lehrman sold 8,154 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $36.08, for a total value of $294,196.32. Following the transaction, the director directly owned 22,115 shares in the company, valued at $797,909.20. The trade was a 26.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analyst Weigh In

IBTA has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on shares of Ibotta from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Ibotta in a research note on Tuesday, August 4th. Evercore set a $42.00 price objective on Ibotta in a report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a research report on Wednesday, June 24th. Finally, Zacks Research raised Ibotta from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. 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 stock. According to data from MarketBeat, Ibotta presently has a consensus rating of “Reduce” and an average target price of $36.50.

Ibotta Price Performance

The firm’s 50 day moving average price is $31.94 and its two-hundred day moving average price is $29.87. The stock has a market cap of $728.95 million, a PE ratio of -76.79 and a beta of -0.43.

Institutional Inflows and Outflows

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

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.