Cardlytics (NASDAQ:CDLX) Trading Up 3.3% – Still a Buy?

Cardlytics, Inc. (NASDAQ:CDLX) shares were up 3.3% on Monday . The stock traded as high as $3.80 and last traded at $3.74. 45,694 shares were traded during mid-day trading, a decline of 18% from the average session volume of 55,882 shares. The stock had previously closed at $3.62.

Wall Street Analyst Weigh In

CDLX has been the topic of several analyst reports. Wall Street Zen downgraded Cardlytics from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Lake Street Capital set a $10.00 target price on shares of Cardlytics in a research note on Friday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Cardlytics in a report on Thursday, June 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Cardlytics in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Cardlytics currently has an average rating of “Reduce” and a consensus target price of $10.00.

Cardlytics Price Performance

The company has a market capitalization of $21.73 million, a price-to-earnings ratio of -0.21 and a beta of 0.61. The business has a fifty day moving average price of $5.19 and a 200 day moving average price of $7.94.

Insider Buying and Selling at Cardlytics

In other news, CEO Amit Gupta sold 9,640 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $4.39, for a total transaction of $42,319.60. Following the transaction, the chief executive officer owned 113,850 shares in the company, valued at approximately $499,801.50. The trade was a 7.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Thomas Evans acquired 15,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were bought at an average price of $6.50 per share, for a total transaction of $97,500.00. Following the acquisition, the chief financial officer owned 26,793 shares in the company, valued at approximately $174,154.50. This trade represents a 127.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 18,289 shares of company stock valued at $80,289. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Cardlytics

Several hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in Cardlytics by 15.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 109,001 shares of the company’s stock valued at $125,000 after acquiring an additional 14,273 shares during the period. Voleon Capital Management LP bought a new stake in shares of Cardlytics in the 3rd quarter worth approximately $127,000. Lighthouse Investment Partners LLC bought a new stake in shares of Cardlytics in the 3rd quarter worth approximately $89,000. Centiva Capital LP acquired a new stake in shares of Cardlytics during the 3rd quarter worth approximately $104,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Cardlytics during the third quarter valued at approximately $74,000. Institutional investors own 68.10% of the company’s stock.

Cardlytics Company Profile

Cardlytics, Inc operates a purchase intelligence and marketing platform that connects advertisers with consumers through bank and credit card transaction data. The company partners with financial institutions to analyze anonymized purchase information, enabling brands to deliver highly targeted offers and rewards directly to customers’ online and mobile banking channels. By leveraging real-time insights into consumer spending habits, Cardlytics helps marketers optimize campaign performance and measure return on ad spend more accurately than traditional digital advertising methods.

At the core of Cardlytics’ offering is its proprietary purchase intelligence engine, which aggregates and anonymizes transaction data from partner banks and credit unions.