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

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

Analyst Upgrades and Downgrades

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

Cardlytics Price Performance

The business has a 50 day simple moving average of $5.19 and a 200 day simple moving average of $7.94. The stock has a market cap of $21.73 million, a PE ratio of -0.21 and a beta of 0.61.

Insider Activity at Cardlytics

In related news, CEO Amit Gupta sold 9,640 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $4.39, for a total value of $42,319.60. Following the completion of the sale, the chief executive officer owned 113,850 shares of the company’s stock, valued at approximately $499,801.50. The trade was a 7.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David Thomas Evans acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average price of $6.30 per share, for a total transaction of $31,500.00. Following the acquisition, the chief financial officer directly owned 31,793 shares of the company’s stock, valued at $200,295.90. The trade was a 18.66% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders sold 18,289 shares of company stock valued at $80,289. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Cardlytics

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its holdings 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 buying an additional 14,273 shares in the last quarter. Voleon Capital Management LP acquired a new stake in shares of Cardlytics in the third quarter worth about $127,000. Lighthouse Investment Partners LLC bought a new stake in shares of Cardlytics during the 3rd quarter worth about $89,000. Centiva Capital LP bought a new stake in shares of Cardlytics during the 3rd quarter worth about $104,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Cardlytics during the 3rd quarter worth about $74,000. 68.10% of the stock is owned by institutional investors.

About Cardlytics

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.