Ibotta (NYSE:IBTA) CTO Luke Roy Swanson Sells 20,100 Shares of Stock

Ibotta, Inc. (NYSE:IBTA) CTO Luke Swanson sold 20,100 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $40.04, for a total transaction of $804,804.00. Following the sale, the chief technology officer directly owned 446,032 shares of the company’s stock, valued at approximately $17,859,121.28. The trade was a 4.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Tuesday, September 1st, Luke Swanson sold 5,940 shares of Ibotta stock. The stock was 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 shares were 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 stock was sold at an average price of $24.47, for a total value of $145,351.80.
• On Wednesday, July 1st, Luke 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.

Ibotta Price Performance

Shares of IBTA stock traded up $1.39 during trading hours on Monday, reaching $42.53. 192,777 shares of the company traded hands, compared to its average volume of 255,070. The firm has a 50-day moving average price of $34.05 and a 200 day moving average price of $32.15. The company has a market cap of $859.11 million, a P/E ratio of -90.49 and a beta of -0.25. Ibotta, Inc. has a 12-month low of $19.10 and a 12-month high of $43.43.

Institutional Trading of Ibotta

Several hedge funds have recently bought and sold shares of the stock. Essential Partners LLC grew its position in shares of Ibotta by 40,800.0% during the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock valued at $25,000 after purchasing an additional 816 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Ibotta in the first quarter worth about $39,000. New York State Teachers Retirement System bought a new position in Ibotta during the first quarter valued at approximately $39,000. Caitong International Asset Management Co. Ltd grew its holdings in Ibotta by 335.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,754 shares of the company’s stock valued at $63,000 after buying an additional 2,122 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Ibotta in the 2nd quarter worth approximately $290,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Ibotta from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Evercore set a $42.00 target price on shares of Ibotta in a report on Tuesday, August 4th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Ibotta in a research note on Tuesday, August 4th. The Goldman Sachs Group boosted their price objective on Ibotta from $28.00 to $32.00 and gave the company a “sell” rating in a research report on Tuesday, August 4th. Finally, Wells Fargo & Company upped their price objective on Ibotta from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $36.50.

About Ibotta

Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Its services connect consumers with cash-back offers on groceries, household products, apparel, electronics and other categories, while helping brands and retailers deliver targeted promotions and measure consumer engagement.

Consumers can access Ibotta offers through the company’s mobile application and website, as well as through integrations with participating retailers and loyalty programs.