Cardlytics (NASDAQ:CDLX) Downgraded by Wall Street Zen to “Sell”

Cardlytics (NASDAQ:CDLX) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also issued reports on the company. Lake Street Capital set a $10.00 target price on Cardlytics in a research note on Friday, May 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Cardlytics in a research note on Friday, April 10th. Bank of America restated an “underperform” rating on shares of Cardlytics in a research note on Thursday, March 5th. Finally, Evercore set a $10.00 target price on Cardlytics in a research note on Friday, March 6th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Sell” and an average target price of $10.00.

Cardlytics Price Performance

Shares of CDLX opened at $5.41 on Friday. The firm has a market cap of $31.43 million, a PE ratio of -0.31 and a beta of 0.58. The stock’s fifty day moving average price is $7.96 and its two-hundred day moving average price is $9.47. Cardlytics has a 1 year low of $4.50 and a 1 year high of $32.80.

Insider Activity at Cardlytics

In related news, CFO David Thomas Evans acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average cost of $6.30 per share, for a total transaction of $31,500.00. Following the purchase, the chief financial officer owned 31,793 shares in the company, valued at $200,295.90. This trade represents a 18.66% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amit Gupta sold 6,983 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $11.90, for a total value of $83,097.70. Following the sale, the chief executive officer owned 98,738 shares in the company, valued at approximately $1,174,982.20. The trade was a 6.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 22,688 shares of company stock worth $241,288. 5.90% of the stock is owned by company insiders.

Institutional Trading of Cardlytics

A number of hedge funds and other institutional investors have recently made changes to their positions in CDLX. XTX Topco Ltd raised its stake in shares of Cardlytics by 143.5% during the 2nd quarter. XTX Topco Ltd now owns 85,971 shares of the company’s stock valued at $141,000 after purchasing an additional 50,663 shares during the period. Marshall Wace LLP bought a new stake in shares of Cardlytics during the 2nd quarter valued at $59,000. Jane Street Group LLC raised its stake in shares of Cardlytics by 263.0% during the 2nd quarter. Jane Street Group LLC now owns 162,427 shares of the company’s stock valued at $267,000 after purchasing an additional 117,687 shares during the period. Private Advisor Group LLC bought a new stake in shares of Cardlytics during the 3rd quarter valued at $272,000. Finally, UBS Group AG raised its stake in shares of Cardlytics by 112.5% during the 3rd quarter. UBS Group AG now owns 458,066 shares of the company’s stock valued at $1,113,000 after purchasing an additional 242,536 shares during the period. 68.10% of the stock is currently owned by institutional investors.

About Cardlytics

Cardlytics, Inc operates a purchase intelligence and marketing platform that connects advertisers with consumers through bank and credit card transaction data. The company partners with financial institutions to analyze anonymized purchase information, enabling brands to deliver highly targeted offers and rewards directly to customers’ online and mobile banking channels. By leveraging real-time insights into consumer spending habits, Cardlytics helps marketers optimize campaign performance and measure return on ad spend more accurately than traditional digital advertising methods.

At the core of Cardlytics’ offering is its proprietary purchase intelligence engine, which aggregates and anonymizes transaction data from partner banks and credit unions.