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

Cardlytics, Inc. (NASDAQ:CDLX)’s stock price gapped down prior to trading 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 traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Craig Hallum upgraded shares of Cardlytics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $18.00 in a report on Friday, March 15th. Lake Street Capital upped their price target on shares of 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 upped their price target on shares of Cardlytics from $12.00 to $15.00 and gave the company a “buy” rating in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.20.

Cardlytics Price Performance

The company has a debt-to-equity ratio of 1.91, a current ratio of 1.31 and a quick ratio of 1.31. The stock’s fifty day simple moving average is $8.55 and its 200-day simple moving average is $9.98. The company has a market capitalization of $645.77 million, a P/E ratio of -4.23 and a beta of 1.36.

Insider Buying and Selling at Cardlytics

In related news, insider Nicholas Hollmeyer Lynton sold 15,620 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $7.77, for a total value of $121,367.40. Following the completion of the sale, the insider now owns 55,849 shares in the company, valued at $433,946.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Nicholas Hollmeyer Lynton sold 15,620 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $7.77, for a total value of $121,367.40. Following the completion of the sale, the insider now owns 55,849 shares in the company, valued at $433,946.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Clifford Sosin bought 350,000 shares of Cardlytics stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average price of $13.40 per share, with a total value of $4,690,000.00. Following the purchase, the insider now owns 6,023,676 shares of the company’s stock, valued at approximately $80,717,258.40. The disclosure for this purchase can be found here. Insiders sold 136,556 shares of company stock worth $926,492 over the last ninety days. Company insiders own 0.78% of the company’s stock.

Institutional Investors Weigh In On Cardlytics

Several hedge funds have recently made changes to their positions in CDLX. FMR LLC lifted its stake in shares of Cardlytics by 238.4% in the second quarter. FMR LLC now owns 1,428 shares of the company’s stock valued at $32,000 after buying an additional 1,006 shares during the period. Tower Research Capital LLC TRC raised its position in Cardlytics by 220.6% in the third quarter. Tower Research Capital LLC TRC now owns 3,405 shares of the company’s stock worth $32,000 after purchasing an additional 2,343 shares in the last quarter. Point72 Middle East FZE acquired a new position in Cardlytics in the fourth quarter worth about $35,000. Point72 Hong Kong Ltd acquired a new position in Cardlytics in the second quarter worth about $38,000. Finally, Comerica Bank acquired a new position in Cardlytics in the third quarter worth about $40,000. Institutional investors own 68.10% of the company’s stock.

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.