On June 4, 2026, Luke Swanson, serving as the Chief Technology Officer for Ibotta, Inc. (NASDAQ:IBTA), executed a significant divestment of company equity. The transactions resulted in the sale of 11,880 shares of Ibotta's Class A Common Stock, generating proceeds of approximately $391,773. The sales were executed at prices ranging from $32.51 to $33.94 per share. These transactions were carried out under a pre-arranged Rule 10b5-1 trading plan, which Mr. Swanson established on March 6, 2026.
The insider sale comes as Ibotta's stock trades at $32.09, down 8.5% over the past week. Despite this recent weakness, the stock has surged 46% over the last six months. According to InvestingPro analysis, the company appears undervalued at current levels, landing it on the platform's most undervalued stocks list. Analysts forecast earnings of $1.80 per share for fiscal 2026, suggesting a return to profitability ahead.
Mr. Swanson directly sold 5,132 shares at a weighted average price of $32.8616 per share, with individual sales occurring between $32.51 and $33.495. He also directly sold 808 shares at a weighted average price of $33.7143 per share, with prices ranging from $33.518 to $33.94. Following these direct sales, Mr. Swanson holds 495,844 shares directly, which include certain restricted stock units (RSUs).
Shares held indirectly by Mr. Swanson's spouse were also sold. These included 5,133 shares at a weighted average price of $32.8617 per share (with prices from $32.51 to $33.495) and 807 shares at a weighted average price of $33.7141 per share (with prices from $33.518 to $33.94). After these transactions, Mr. Swanson's spouse holds 279,402 shares indirectly.
Further indirect holdings for Mr. Swanson include 45,045 shares held by Flat Tops Ventures, LLC, and 206,000 shares held by Flat Tops 2024 Trust.
In other recent news, Ibotta Inc. reported its Q1 2026 earnings, revealing a significant miss in earnings per share (EPS) compared to analyst forecasts. The company posted an EPS of $0.24, which was notably lower than the expected $0.62, marking a 61.29% miss. Despite this earnings miss, the revenue for the quarter was $82.5 million, slightly exceeding internal guidance, although it reflected a 2% decline year-over-year. In another development, Needham raised its price target for Ibotta to $45 from $33, maintaining a Buy rating. The firm cited a higher target multiple as the primary reason for this increase, even though it modestly lowered estimates for 2026. Notably, Ibotta has surpassed the top end of its guidance for three consecutive quarters after initially falling short following its public debut. These developments highlight the recent activity surrounding Ibotta Inc.