Ibotta (NYSE:IBTA) Stock Price Down 7% Following Insider Selling

Ibotta, Inc. (NYSE:IBTA) shares traded down 7% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $36.10 and last traded at $36.14. 41,425 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 262,505 shares. The stock had previously closed at $38.84.

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

Analyst Ratings Changes

IBTA has been the subject of a number of recent research reports. Zacks Research raised shares of Ibotta from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. The Goldman Sachs Group boosted their price target on Ibotta from $28.00 to $32.00 and gave the stock a “sell” rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a research report on Wednesday, June 24th. Finally, UBS Group increased their target price 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 equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Ibotta has a consensus rating of “Reduce” and an average target price of $36.50.

Ibotta Price Performance

The stock’s fifty day simple moving average is $32.02 and its 200-day simple moving average is $29.98. The firm has a market cap of $746.79 million, a PE ratio of -78.66 and a beta of -0.43.

Institutional Trading of Ibotta

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBTA. Essential Partners LLC lifted its holdings in shares of Ibotta by 40,800.0% during the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after purchasing an additional 816 shares during the period. Meeder Asset Management Inc. acquired a new stake in Ibotta during the 1st quarter valued at approximately $39,000. New York State Teachers Retirement System purchased a new stake in shares of Ibotta in the 1st quarter valued at $39,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Ibotta by 187.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock worth $41,000 after acquiring an additional 1,185 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of Ibotta by 47,920.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock worth $55,000 after purchasing an additional 2,396 shares during the last quarter.

About Ibotta

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.