Cardlytics, Inc. (NASDAQ:CDLX) Position Reduced by CI Investments Inc.

CI Investments Inc. trimmed its stake in shares of Cardlytics, Inc. (NASDAQ:CDLXGet Rating) by 25.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the company’s stock after selling 10,000 shares during the quarter. CI Investments Inc. owned approximately 0.09% of Cardlytics worth $1,649,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. ARK Investment Management LLC boosted its stake in Cardlytics by 11.9% during the 1st quarter. ARK Investment Management LLC now owns 3,232 shares of the company’s stock valued at $178,000 after acquiring an additional 344 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Cardlytics by 280.0% during the first quarter. Nisa Investment Advisors LLC now owns 3,800 shares of the company’s stock worth $209,000 after purchasing an additional 2,800 shares during the period. American Trust acquired a new stake in shares of Cardlytics during the fourth quarter worth $294,000. Paradigm Financial Partners LLC raised its holdings in shares of Cardlytics by 47.9% during the fourth quarter. Paradigm Financial Partners LLC now owns 4,606 shares of the company’s stock worth $296,000 after purchasing an additional 1,491 shares during the period. Finally, Bailard Inc. acquired a new stake in shares of Cardlytics during the fourth quarter worth $297,000. 97.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cardlytics

In other Cardlytics news, insider Kirk Somers sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $25.05, for a total transaction of $25,050.00. Following the transaction, the insider now owns 45,317 shares of the company’s stock, valued at approximately $1,135,190.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Cardlytics news, insider Kirk Somers sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $25.05, for a total transaction of $25,050.00. Following the transaction, the insider now owns 45,317 shares of the company’s stock, valued at approximately $1,135,190.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Scott D. Grimes sold 9,257 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $15.19, for a total transaction of $140,613.83. Following the transaction, the director now directly owns 238,594 shares in the company, valued at approximately $3,624,242.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,458 shares of company stock valued at $288,786. Company insiders own 3.70% of the company’s stock.

Cardlytics Stock Down 5.6 %

CDLX stock opened at $11.87 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40. Cardlytics, Inc. has a fifty-two week low of $11.73 and a fifty-two week high of $99.47. The firm’s 50-day simple moving average is $16.61 and its 200 day simple moving average is $33.31. The stock has a market cap of $390.45 million, a PE ratio of -2.60 and a beta of 2.10.

Wall Street Analyst Weigh In

CDLX has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Cardlytics from $47.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, June 29th. Bank of America cut shares of Cardlytics from a “neutral” rating to an “underperform” rating and set a $14.00 target price on the stock. in a report on Tuesday, July 12th. Wells Fargo & Company dropped their price objective on shares of Cardlytics from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 3rd. Needham & Company LLC dropped their price objective on shares of Cardlytics from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Finally, Craig Hallum cut shares of Cardlytics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $50.00 to $20.00 in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Cardlytics has a consensus rating of “Hold” and a consensus price target of $20.40.

Cardlytics Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Cardlytics (NASDAQ:CDLX)

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