Cardlytics (NASDAQ:CDLX) Sees Large Volume Increase

Cardlytics, Inc. (NASDAQ:CDLX) saw unusually-high trading volume on Wednesday . Approximately 1,870,707 shares changed hands during trading, an increase of 19% from the previous session’s volume of 1,566,441 shares.The stock last traded at $13.56 and had previously closed at $13.60.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CDLX shares. Craig Hallum upgraded shares of Cardlytics from a “hold” rating to a “buy” rating and upped their price target for the stock from $10.00 to $18.00 in a report on Friday, March 15th. Lake Street Capital raised their target price on shares of Cardlytics from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Needham & Company LLC boosted their price target on 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 issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $13.20.

Cardlytics Price Performance

The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.91. The firm’s 50-day moving average price is $8.72 and its two-hundred day moving average price is $10.01. The stock has a market cap of $639.15 million, a PE ratio of -4.19 and a beta of 1.36.

Insider Buying and Selling

In other Cardlytics news, CEO Karim Saad Temsamani sold 31,123 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $7.77, for a total transaction of $241,825.71. Following the sale, the chief executive officer now owns 277,735 shares of the company’s stock, valued at approximately $2,158,000.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cardlytics news, CEO Karim Saad Temsamani sold 31,123 shares of Cardlytics stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $7.77, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Clifford Sosin purchased 311,715 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $13.71 per share, with a total value of $4,273,612.65. Following the completion of the transaction, the insider now owns 5,673,676 shares of the company’s stock, valued at approximately $77,786,097.96. The disclosure for this purchase can be found here. Insiders sold 136,556 shares of company stock valued at $926,492 over the last 90 days. Corporate insiders own 0.78% of the company’s stock.

Institutional Investors Weigh In On Cardlytics

Several institutional investors have recently bought and sold shares of the company. Rhumbline Advisers increased its position in shares of Cardlytics by 2.6% during the first quarter. Rhumbline Advisers now owns 34,150 shares of the company’s stock worth $1,878,000 after purchasing an additional 856 shares in the last quarter. FMR LLC raised its stake in 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 last quarter. Price T Rowe Associates Inc. MD raised its stake in Cardlytics by 7.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 17,580 shares of the company’s stock valued at $392,000 after buying an additional 1,184 shares during the last quarter. American International Group Inc. boosted its holdings in Cardlytics by 7.8% in the fourth quarter. American International Group Inc. now owns 18,168 shares of the company’s stock worth $167,000 after acquiring an additional 1,307 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Cardlytics by 186.5% during the third quarter. Tower Research Capital LLC TRC now owns 2,137 shares of the company’s stock worth $35,000 after acquiring an additional 1,391 shares during the last quarter. 68.10% of the stock is currently owned by institutional investors and hedge funds.

Cardlytics Company Profile

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.