Baillie Gifford & Co. Sells 109,824 Shares of Cardlytics, Inc. (NASDAQ:CDLX)

Baillie Gifford & Co. lowered its position in shares of Cardlytics, Inc. (NASDAQ:CDLX - Free Report) by 11.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 829,270 shares of the company's stock after selling 109,824 shares during the period. Baillie Gifford & Co. owned approximately 1.70% of Cardlytics worth $6,808,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Canton Hathaway LLC increased its stake in shares of Cardlytics by 95.7% in the second quarter. Canton Hathaway LLC now owns 4,500 shares of the company's stock worth $37,000 after buying an additional 2,200 shares during the last quarter. Kent Lake Capital LLC bought a new stake in shares of Cardlytics in the first quarter worth $3,622,000. Blackstone Inc. bought a new stake in shares of Cardlytics in the first quarter worth $2,029,000. Perbak Capital Partners LLP bought a new stake in shares of Cardlytics in the first quarter worth $2,348,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Cardlytics by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,769 shares of the company's stock worth $432,000 after buying an additional 1,774 shares during the last quarter. Hedge funds and other institutional investors own 68.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Craig Hallum lowered shares of Cardlytics from a "buy" rating to a "hold" rating in a research note on Thursday, August 8th. Lake Street Capital lowered shares of Cardlytics from a "buy" rating to a "hold" rating and dropped their price target for the stock from $18.00 to $5.00 in a research note on Thursday, August 8th. Northland Capmk lowered shares of Cardlytics from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 16th. Bank of America lowered shares of Cardlytics from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $4.00 to $3.50 in a research note on Thursday, August 15th. Finally, Needham & Company LLC lowered shares of Cardlytics from a "buy" rating to a "hold" rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $7.50.

Insider Activity

In other news, CEO Karim Saad Temsamani sold 43,129 shares of the business's stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $8.65, for a total transaction of $373,065.85. Following the completion of the transaction, the chief executive officer now owns 385,530 shares of the company's stock, valued at $3,334,834.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Karim Saad Temsamani sold 43,129 shares of the company's stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $8.65, for a total value of $373,065.85. Following the completion of the sale, the chief executive officer now owns 385,530 shares of the company's stock, valued at $3,334,834.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alexis Desieno sold 7,451 shares of the company's stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $7.95, for a total transaction of $59,235.45. Following the completion of the sale, the chief financial officer now directly owns 6,898 shares of the company's stock, valued at approximately $54,839.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,742 shares of company stock valued at $735,905. 4.40% of the stock is currently owned by company insiders.

Cardlytics Stock Performance

CDLX stock traded down $0.16 during trading on Monday, hitting $3.85. 778,581 shares of the company's stock traded hands, compared to its average volume of 1,381,508. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 1.30. Cardlytics, Inc. has a 52 week low of $2.89 and a 52 week high of $20.52. The stock has a fifty day moving average price of $7.02 and a two-hundred day moving average price of $9.34. The stock has a market capitalization of $187.81 million, a price-to-earnings ratio of -0.87 and a beta of 1.65.

Cardlytics (NASDAQ:CDLX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.12. Cardlytics had a negative net margin of 55.23% and a negative return on equity of 25.36%. The company had revenue of $69.64 million during the quarter, compared to the consensus estimate of $75.39 million. During the same quarter in the previous year, the company posted ($0.57) earnings per share. The company's revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, equities analysts anticipate that Cardlytics, Inc. will post -1.8 EPS for the current fiscal year.

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.