Insider Selling: Ibotta (NYSE:IBTA) Insider Sells 1,712 Shares of Stock

Ibotta, Inc. (NYSE:IBTA) insider Marisa Daspit sold 1,712 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $37.01, for a total transaction of $63,361.12. Following the completion of the transaction, the insider directly owned 120,207 shares in the company, valued at $4,448,861.07. This represents a 1.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 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 value of $110,731.76.

Ibotta Stock Performance

Shares of Ibotta stock traded down $0.50 on Thursday, reaching $37.19. 138,822 shares of the company were exchanged, compared to its average volume of 255,556. The firm has a market cap 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 company’s 50-day moving average is $33.42 and its two-hundred day moving average is $31.28.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Evercore set a $42.00 target price on Ibotta in a research note on Tuesday, August 4th. The Goldman Sachs Group increased their price objective on shares of Ibotta from $28.00 to $32.00 and gave the stock a “sell” rating in a report on Tuesday, August 4th. Wall Street Zen raised shares of Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wells Fargo & Company upped 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. Finally, Zacks Research raised Ibotta from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $36.50.

Hedge Funds Weigh In On Ibotta

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ibotta by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock worth $396,000 after purchasing an additional 515 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in Ibotta in the first quarter worth approximately $161,000. Goldman Sachs Group Inc. increased its holdings in shares of Ibotta by 16.6% in the first quarter. Goldman Sachs Group Inc. now owns 122,514 shares of the company’s stock valued at $5,170,000 after buying an additional 17,421 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Ibotta by 43.5% during the 2nd quarter. Legal & General Group Plc now owns 12,349 shares of the company’s stock valued at $452,000 after acquiring an additional 3,746 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Ibotta during the 2nd quarter valued at $781,000.

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.