Cardlytics (NASDAQ:CDLX) Shares Gap Down to $20.25

Shares of Cardlytics, Inc. (NASDAQ:CDLX) gapped down before the market opened on Tuesday . The stock had previously closed at $20.25, but opened at $15.74. Cardlytics shares last traded at $13.53, with a volume of 2,366,715 shares.

Analyst Ratings Changes

Several research firms have recently issued reports on CDLX. Craig Hallum upgraded Cardlytics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $18.00 in a report on Friday, March 15th. Lake Street Capital lifted their target price on Cardlytics from $13.00 to $18.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Needham & Company LLC lifted their target price on Cardlytics from $12.00 to $15.00 and gave the company a “buy” rating in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.20.

Cardlytics Stock Up 7.6 %

The stock has a market cap of $645.77 million, a price-to-earnings ratio of -4.23 and a beta of 1.36. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.91. The stock has a fifty day moving average of $8.55 and a two-hundred day moving average of $9.98.

Insiders Place Their Bets

In other Cardlytics news, CEO Karim Saad Temsamani sold 31,123 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $7.77, for a total transaction of $241,825.71. Following the transaction, the chief executive officer now owns 277,735 shares in the company, valued at $2,158,000.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cardlytics news, CEO Karim Saad Temsamani sold 31,123 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $7.77, for a total transaction of $241,825.71. Following the transaction, the chief executive officer now owns 277,735 shares in the company, valued at $2,158,000.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Clifford Sosin acquired 350,000 shares of Cardlytics stock in a transaction on Monday, March 18th. The shares were bought at an average price of $13.40 per share, for a total transaction of $4,690,000.00. Following the purchase, the insider now owns 6,023,676 shares of the company’s stock, valued at $80,717,258.40. The disclosure for this purchase can be found here. Insiders have sold a total of 136,556 shares of company stock worth $926,492 over the last quarter. 0.78% of the stock is owned by corporate insiders.

Institutional Trading of Cardlytics

A number of hedge funds and other institutional investors have recently modified their holdings of CDLX. FMR LLC increased its position in shares of Cardlytics by 238.4% during the second quarter. FMR LLC now owns 1,428 shares of the company’s stock worth $32,000 after acquiring an additional 1,006 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Cardlytics by 220.6% during the third quarter. Tower Research Capital LLC TRC now owns 3,405 shares of the company’s stock worth $32,000 after acquiring an additional 2,343 shares during the last quarter. Point72 Middle East FZE purchased a new stake in shares of Cardlytics during the fourth quarter worth about $35,000. Point72 Hong Kong Ltd purchased a new stake in shares of Cardlytics during the second quarter worth about $38,000. Finally, Comerica Bank purchased a new stake in shares of Cardlytics during the third quarter worth about $40,000. 68.10% of the stock is owned by hedge funds and other institutional investors.

About Cardlytics

Cardlytics, Inc operates an advertising platform in the United States and the United Kingdom. It offers Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through their network of financial institution partners through digital channels, such as online, mobile applications, email, and various real-time notifications; and Bridg platform, a customer data platform which utilizes point-of-sale data and enables marketers to perform analytics and targeted loyalty marketing, as well as measure the impact of their marketing.