In a recent transaction, Amit Gupta, the Chief Operating Officer of Cardlytics, Inc. (NASDAQ:CDLX), sold a number of shares, resulting in a total sale value of $278,884. This sale occurred on April 24, 2024, and involved a total of 23,416 shares of the company's common stock. The shares were sold at an average price of $11.91, with individual transactions ranging from $11.71 to $12.21.
The sale was executed to satisfy tax withholding obligations related to the vesting of Restricted Stock Units (RSUs) on April 23, 2024. Gupta did not sell shares for any other purpose, as clarified in the footnotes of the filing. The RSUs represent a contingent right to receive shares of common stock of Cardlytics, and this particular award was originally for 350,000 shares, with a vesting schedule detailed in the footnotes.
Following the sale, Gupta's ownership in Cardlytics' common stock decreased, yet he still holds a significant number of shares, maintaining a vested interest in the company's performance. The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission, providing transparency into the trading activities of the company's insiders.
Investors often monitor such insider transactions as they may provide insights into the executives' perspectives on the company's value and future prospects. Cardlytics, Inc., based in Atlanta, Georgia, operates in the computer programming and data processing industry, and continues to be a subject of interest for those following technology sector investments.
InvestingPro Insights
As investors consider the recent insider sale by Cardlytics, Inc.'s (NASDAQ:CDLX) Chief Operating Officer, it's important to look at the broader financial health and market performance of the company. Cardlytics' market capitalization currently stands at $554.96 million, indicating its size within the computer programming and data processing industry. Despite a challenging period, as reflected by a negative price-to-earnings (P/E) ratio of -3.18 and an adjusted P/E ratio for the last twelve months as of Q4 2023 of -7.63, there are positive signs for potential investors. Analysts have revised their earnings upwards for the upcoming period, suggesting optimism about the company's profitability this year.
An InvestingPro Tip indicates that the stock has experienced high price volatility, which could be a factor for traders seeking dynamic market movements. However, it's also worth noting that Cardlytics has achieved a strong return over the last three months, with a 90.1% increase in price total return, which could be appealing for those looking for short-term gains. Additionally, the company's liquid assets exceed its short-term obligations, providing some financial stability.
It's clear that the company has faced challenges, as it has not been profitable over the last twelve months, and the stock has fared poorly over the last month with a -27.55% price total return. Nonetheless, the company's revenue growth remains positive, with a 3.57% increase over the last twelve months as of Q4 2023, and a higher quarterly growth rate of 8.08%. These figures may suggest underlying business strength amidst the market's fluctuations.
For those looking to delve deeper, there are additional InvestingPro Tips available that could offer further insights into Cardlytics' financials and stock performance. To explore these tips and gain a more comprehensive understanding of the company's outlook, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/CDLX.
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