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

Ibotta, Inc. (NYSE:IBTA) CTO Luke Swanson sold 5,940 shares of Ibotta stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $36.96, for a total value of $219,542.40. Following the completion of the sale, the chief technology officer directly owned 466,132 shares in the company, valued at $17,228,238.72. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, August 7th, Luke Swanson sold 600 shares of Ibotta stock. The stock was 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 shares were 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 opened at $37.19 on Friday. The stock has a market capitalization of $751.24 million, a price-to-earnings ratio of -79.13 and a beta of -0.25. Ibotta, Inc. has a 1 year low of $19.10 and a 1 year high of $40.49. The business’s 50 day simple moving average is $33.52 and its 200-day simple moving average is $31.39.

Institutional Trading of Ibotta

A number of institutional investors have recently bought and sold shares of IBTA. Essential Partners LLC increased its position in 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 acquiring an additional 816 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Ibotta in the first quarter worth about $39,000. New York State Teachers Retirement System purchased a new position in shares of Ibotta during the first quarter valued at approximately $39,000. Quantbot Technologies LP purchased a new stake in shares of Ibotta in the second quarter worth approximately $66,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings 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 buying an additional 1,185 shares during the period.

Analysts Set New Price Targets

IBTA has been the subject of several research reports. The Goldman Sachs Group increased their price objective on shares of Ibotta from $28.00 to $32.00 and gave the company a “sell” rating in a research report on Tuesday, August 4th. Evercore set a $42.00 target price on shares of Ibotta in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a report on Wednesday, June 24th. Finally, Zacks Research upgraded Ibotta from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $36.50.

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.