Ibotta (NYSE:IBTA) Stock: Insider Marisa Daspit Sells 720 Shares

Ibotta, Inc. (NYSE:IBTA) insider Marisa Daspit sold 720 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $50.01, for a total transaction of $36,007.20. Following the sale, the insider directly owned 115,539 shares in the company, valued at $5,778,105.39. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marisa Daspit also recently made the following trade(s):

• On Friday, October 30th, Marisa Daspit sold 102 shares of Ibotta stock. The stock was sold at an average price of $50.08, for a total transaction of $5,108.16.
• On Thursday, October 29th, Marisa Daspit sold 144 shares of Ibotta stock. The stock was sold at an average price of $50.00, for a total transaction of $7,200.00.
• 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 transaction of $25,024.85.
• On Wednesday, October 21st, Marisa Daspit sold 247 shares of Ibotta stock. The shares were sold at an average price of $50.00, for a total transaction of $12,350.00.
• On Wednesday, September 2nd, Marisa Daspit sold 2,956 shares of Ibotta stock. The shares were sold at an average price of $37.46, for a total transaction of $110,731.76.
• On Tuesday, September 1st, Marisa Daspit sold 1,712 shares of Ibotta stock. The shares were sold at an average price of $37.01, for a total transaction of $63,361.12.

Ibotta Stock Down 8.2%

Shares of NYSE IBTA opened at $57.88 on Friday. The firm has a market cap of $1.17 billion, a P/E ratio of -86.39 and a beta of -0.46. Ibotta, Inc. has a twelve month low of $19.10 and a twelve month high of $66.39. The company has a 50 day moving average of $43.81 and a 200 day moving average of $33.42.

Ibotta (NYSE:IBTA) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.49. The firm had revenue of $97.83 million for the quarter. Ibotta had a negative return on equity of 5.51% and a negative net margin of 4.49%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business earned $0.56 earnings per share. As a group, equities analysts expect that Ibotta, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on IBTA shares. Needham & Company LLC boosted their price objective on Ibotta from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research note on Monday, September 21st. Citigroup lifted their price target on shares of Ibotta from $34.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company upped their price target on shares of Ibotta from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Evercore set a $58.00 price objective on shares of Ibotta in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Ibotta has an average rating of “Reduce” and a consensus price target of $50.00.

More Ibotta News

Here are the key news stories impacting Ibotta this week:

• Positive Sentiment: Quarterly results beat expectations: Ibotta reported $0.62 in earnings per share, versus analyst estimates of $0.13, while revenue grew 17.4% year over year to $97.83 million. The stock also recently reached a 12-month high following the results. Article: Ibotta rallies on Q3 results
• Positive Sentiment: Needham raised its target and kept a Buy rating: The firm lifted its price target from $45 to $65, signaling further potential upside. Article: Citigroup issues positive forecast for Ibotta
• Neutral Sentiment: Goldman Sachs and Citigroup turned more constructive, but remain Neutral: Goldman raised its rating from Sell to Neutral and its target to $58; Citi set a Neutral rating and a $60 target. Those targets suggest limited upside relative to the stock’s recent trading level. Article: Ibotta raised to Neutral at Goldman Sachs
• Negative Sentiment: Executives disclosed share sales: CTO Luke Swanson sold shares in several transactions, while insider Marisa Daspit sold 720 shares. The trades were made under pre-arranged Rule 10b5-1 plans, which may make them less informative as a signal about near-term prospects, but could add to selling pressure after the rally. Article: Ibotta insider sells shares

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IBTA. Hsbc Holdings PLC increased its holdings in Ibotta by 1.5% during the 1st quarter. Hsbc Holdings PLC now owns 1,009,287 shares of the company’s stock worth $30,581,000 after purchasing an additional 15,310 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Ibotta by 17.7% in the 1st quarter. Renaissance Technologies LLC now owns 239,300 shares of the company’s stock worth $7,172,000 after buying an additional 35,992 shares during the period. Bank of America Corp DE lifted its holdings in shares of Ibotta by 17.8% in the 1st quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock worth $7,168,000 after buying an additional 36,223 shares during the period. Sei Investments Co. bought a new position in shares of Ibotta during the 1st quarter worth $344,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Ibotta during the second quarter valued at $328,000.

About Ibotta

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.