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

Ibotta, Inc. (NYSE:IBTA) CTO Luke Roy Swanson sold 5,940 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $35.14, for a total transaction of $208,731.60. Following the completion of the transaction, the chief technology officer owned 489,904 shares in the company, valued at approximately $17,215,226.56. This represents a 1.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 Thursday, June 4th, Luke Roy Swanson sold 5,940 shares of Ibotta stock. The shares were sold at an average price of $32.98, for a total transaction of $195,901.20.

Ibotta Stock Up 1.1%

Ibotta stock opened at $33.37 on Wednesday. Ibotta, Inc. has a 12 month low of $19.10 and a 12 month high of $41.14. The stock has a market cap of $674.07 million, a P/E ratio of -98.15 and a beta of -0.59. The company’s fifty day simple moving average is $33.22 and its 200-day simple moving average is $28.04.

Ibotta (NYSE:IBTA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.45. Ibotta had a negative return on equity of 2.39% and a negative net margin of 2.15%.The firm had revenue of $82.48 million during the quarter. During the same period in the previous year, the business posted $0.02 EPS. Ibotta’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities research analysts expect that Ibotta, Inc. will post 0.24 earnings per share for the current fiscal year.

Ibotta announced that its Board of Directors has initiated a stock buyback plan on Wednesday, March 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 21.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Ibotta

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBTA. Essential Partners LLC lifted its stake in shares of Ibotta by 40,800.0% in the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after buying an additional 816 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Ibotta during the 1st quarter worth $39,000. New York State Teachers Retirement System acquired a new position in Ibotta in the 1st quarter valued at $39,000. Quantbot Technologies LP bought a new position in Ibotta in the 2nd quarter worth $66,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in Ibotta by 187.5% during the 4th 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 last quarter.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a report on Wednesday, June 24th. Wall Street Zen raised shares of Ibotta from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Needham & Company LLC increased their price target on shares of Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Wells Fargo & Company lifted their price objective on shares of Ibotta from $34.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Finally, Evercore set a $40.00 target price on shares of Ibotta in a research report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Ibotta currently has a consensus rating of “Reduce” and an average price target of $33.00.

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.