Cardlytics, Inc. (NASDAQ: CDLX) experienced a slight decrease in its stake held by Baillie Gifford & Co. during the first quarter of this year. According to the recent Form 13F filing with the Securities and Exchange Commission (SEC), Baillie Gifford & Co. reduced its ownership by 0.6%, selling 9,279 shares of Cardlytics stock. As a result, Baillie Gifford & Co. now holds 1,426,941 shares, representing approximately 4.24% of Cardlytics’ total worth at $4,844,000 as of the end of the reporting period.
Cardlytics operates an innovative advertising platform across both the United States and the United Kingdom. The company’s flagship product, the Cardlytics platform, serves as a unique native bank advertising channel for marketers to connect with customers through financial institution partners using various digital channels such as online portals, mobile applications, email campaigns, and real-time notifications.
In addition to its primary platform, Cardlytics offers Bridg platform—a customer data solution that leverages point-of-sale data to enable marketers to gain valuable insights through analytics and implement targeted loyalty marketing strategies while measuring their marketing performance.
Recently, Cardlytics’ stock exhibited positive movement in mid-day trading on Friday, experiencing an increase of $1.22 per share and reaching $10.85 in value. Notably, during this time frame, a total trading volume of 150,660 shares was recorded—comparing favorably to its average volume of 1,433,814 shares traded.
Currently commanding a market capitalization of $367.92 million and boasting a price-to-earnings ratio of -0.74 alongside a beta value of 1.77—indicative of higher volatility compared to the market—the company continues to show promising potential for growth and market penetration.
Cardlytics exhibits a sound financial position, with a debt-to-equity ratio of 1.10, quick ratio of 1.29, and current ratio of 1.29—indicating its ability to meet short-term obligations efficiently. Additionally, the company’s performance over the past year displays a positive trend, with its 50-day simple moving average resting at $6.71 and its 200-day simple moving average at $6.00.
Despite fluctuations experienced in the market over the past year, Cardlytics has managed to stay resilient by maintaining a healthy price range between $2.57 (its lowest point) and $18.21 (its highest point) during this period.
Overall, the recent reduction in Baillie Gifford & Co.’s stake in Cardlytics indicates a potential shift in investment strategy or investor sentiment towards the company. However, it is essential to note that Cardlytics continues to demonstrate its innovative approach within the advertising space through its proprietary platforms and remains an intriguing stock for investors seeking exposure to digital marketing solutions.
As of July 30, 2023—given the dynamics of Cardlytics’ market presence and recent stock performance amidst evolving consumer behaviors—the company’s future trajectory is poised for further exploration by both investors and industry analysts alike as they anticipate continued growth and expansion within this rapidly changing landscape.
Cardlytics, Inc.
CDLX
Neutral
Updated on: 30/07/2023
Price Target
Current $11.01
Concensus $32.00
Low $14.00
Median $32.00
High $50.00
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Social Sentiments
4:00 PM (UTC)
Date:30 July, 2023
0
Twitter Sentiment
0.575
Stocktwits Sentiment
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Analyst Ratings
Analyst / firm
Rating
Kyle PetersonNeedham
Buy
Jason KreyerCraig-Hallum
Buy
Needham
Buy
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Cardlytics, Inc. Sees Increase in Stake from Large Investors and Insider Selling
July 30, 2023 – Cardlytics, Inc., a leading advertising platform, has recently seen an increase in stake from large investors. Rhumbline Advisers boosted its stake in the company by 2.6% in the 1st quarter, now owning 34,150 shares worth $1,878,000. FMR LLC lifted its stake by 238.4% in the 2nd quarter and now owns 1,428 shares valued at $32,000. Price T Rowe Associates Inc. MD also increased its stake by 7.2% in the same quarter and owns 17,580 shares worth $392,000.
Furthermore, Hsbc Holdings PLC raised its stake by 41.2% in the 1st quarter and now possesses 5,149 shares valued at $287,000. Bank of Montreal Can lifted its stake as well by 2.5% during the same period and holds 64,669 shares worth $3,844,000. It is noteworthy that approximately 84.53% of the stock is currently owned by institutional investors.
In related news on July 19th, CFO Andrew Christiansen sold 13,404 shares of Cardlytics stock at an average price of $10.20 per share resulting in a total transaction value of $136,720.80. Following the sale transaction with SEC filing disclosure accessibility through this link; Christiansen now directly owns 70,775 shares in the company with an estimated value of $721,905.
Additionally on July 19th CFO Andrew Christiansen sold another batch of Cardlytics business’s stock which consisted of a total number of similarly sized shares compared to his previous sale announcement earlier that day: likewise consisting of exactly comparable summing up to an equivalent total netting him (analogously) an equal per share value specified as it was aforementioned amounting to $136,720.80 dollars. Consequently to the completion of this kindred sale Christiansen comparatively possesses an indistinguishable amount of company stock equating 70,775 shares bringing forth a value commensurate with nearly identical stature resembling $721,905.
In another disclosure registered with the Securities & Exchange Commission (SEC), it was revealed that CEO Karim Saad Temsamani also sold 25,574 shares of Cardlytics’ stock on July 3rd at an average price of $6.13 per share, resulting in a total transaction value of $156,768.62. After the completion of this sale, Temsamani’s direct ownership of shares amounts to 24,426 shares within an approximate valuation equivalent to $149,731.38.”
It is interesting to note that insiders have sold a total of 49,533 shares valued at $357,900 in the last ninety days. Currently, insiders own approximately 0.78% of the company’s stock.
Cardlytics operates an advertising platform in both the United States and the United Kingdom. Its flagship offering is the Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through their network of financial institution partners via various digital channels such as online platforms, mobile applications, email services and real-time notifications.
Additionally, Cardlytics provides marketers with its Bridg platform – a customer data platform that leverages point-of-sale data enabling targeted loyalty marketing strategies while relying on analytics to measure the impact of marketing efforts.
In its most recent quarterly earnings report released on May 4th earlier this year; Cardlytics reported earnings per share for Q2 amounted to ($0.47), surpassing analysts’ estimates by $0.22 representing robust performance positively impacting financials which recorded positive growth across critical indicators such as net margin and return on equity.”
The company achieved revenue totaling $64.33 million during the 2nd quarter surpassing market analysts’ projections of $61.55 million. Analysts in the field anticipate that Cardlytics, Inc. will post earnings per share of -2.31 for the current year.
Several research firms have chimed in on CDLX stock recently. Wells Fargo & Company upped its target price from $5.00 to $6.00, issuing an “underweight” rating in a research note published on April 12th in which they expressed reservations regarding the market interests within this company’s stock; meanwhile Craig Hallum increased its price objective for Cardlytics from $7.00 to $8.00 in their report released on May 5th highlighting confidence by incrementally enhancing target values; and finally Needham & Company LLC reiterated a “buy” rating with an associated price objective of $8.00 stated on April 5th contributing to an overall positive outlook shared by market experts considering shares of Cardlytics at present time.”
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