Ibotta (NYSE:IBTA) Stock: Insider Marisa Daspit Sells 247 Shares

Ibotta, Inc. (NYSE:IBTA) insider Marisa Daspit sold 247 shares of the company’s stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $50.00, for a total value of $12,350.00. Following the transaction, the insider owned 117,004 shares in the company, valued at $5,850,200. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value of $25,024.85.
• On Wednesday, September 2nd, Marisa Daspit sold 2,956 shares of Ibotta stock. The stock was sold at an average price of $37.46, for a total value 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 Price Performance

Ibotta stock opened at $48.55 on Friday. Ibotta, Inc. has a 1-year low of $19.10 and a 1-year high of $50.53. The stock has a market cap of $980.71 million, a PE ratio of -103.30 and a beta of -0.29. The stock’s fifty day moving average is $41.08 and its two-hundred day moving average is $35.68.

Institutional Inflows and Outflows

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

Key Ibotta News

Here are the key news stories impacting Ibotta this week:

• Neutral Sentiment: All reported transactions were executed under pre-arranged Rule 10b5-1 trading plans, which reduces their significance as a discretionary signal that executives expect the stock to fall. CTO Luke Swanson and insider Marisa Daspit continue to own substantial positions. SEC Form 4 filing
• Negative Sentiment: CTO Luke Swanson sold a combined 25,018 shares in four transactions on October 21 and 22 for approximately $1.25 million. Although the sales reduced his holdings by relatively small percentages, repeated selling by a senior technology executive may weigh on sentiment and reinforce concerns about insider profit-taking. Luke Swanson SEC Form 4 filing
• Negative Sentiment: Marisa Daspit sold an additional 746 shares for approximately $37,375 across two transactions. The sales were small relative to her remaining stake, but the filings add to the overall pattern of insider selling in Ibotta stock. Marisa Daspit SEC Form 4 filing

Wall Street Analysts Forecast Growth

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

Ibotta Company Profile

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.