Cardlytics, Inc. (NASDAQ:CDLX) CEO Karim Saad Temsamani has sold a portion of his shares in the company, according to a recent filing with the Securities and Exchange Commission. The transactions, which took place on June 4, 2024, involved the sale of 43,129 shares of common stock at prices ranging from $8.55 to $8.83, resulting in a total value of over $373,281.
The sold shares were reportedly disposed of to satisfy tax withholding obligations associated with the vesting of Restricted Stock Units (RSUs) on June 1, 2024. It is noted that the sales were not for any purpose other than to meet these tax requirements. Following the sale, Temsamani's ownership in Cardlytics stands at 385,530 shares of common stock.
Investors interested in the specifics of the transactions can request detailed information from the company, which has undertaken to provide full disclosure regarding the number of shares sold at each price within the reported range.
Cardlytics, based in Atlanta, operates in the field of computer programming, data processing, and other related services, providing a platform that enables banks to present their customers with merchant-funded rewards. The company's recent activities, including executive stock transactions, are closely watched by investors seeking insights into insider confidence and company performance.
InvestingPro Insights
As Cardlytics, Inc. (NASDAQ:CDLX) navigates the complex data processing landscape, the company's stock performance and insider transactions garner investor attention. Recent data from InvestingPro provides a snapshot of the company's financial health and market performance. Cardlytics' market capitalization sits at $428.8 million, indicating its size within the industry. The stock's volatility is a key consideration, as highlighted by two InvestingPro Tips, which note that the stock generally trades with high price volatility and has experienced significant price movement over the last month, including a 40.93% decrease.
While investors process the CEO's recent stock sale, they may also consider that analysts are not expecting Cardlytics to be profitable this year. The company's P/E ratio stands at -1.96, reflecting these profitability challenges. Additionally, the company's strong return over the last three months of 23.8% alongside the overall high return over the last year of 59.53% demonstrates a contrasting dynamic of recent performance versus longer-term gains.
InvestingPro users can uncover further insights and metrics to inform their investment strategies. For instance, Cardlytics' liquid assets exceed its short-term obligations, which may provide some reassurance regarding the company's financial resilience. Interested investors can delve deeper into these aspects and more with additional tips available on InvestingPro. There are 9 more InvestingPro Tips for Cardlytics, which can be accessed with the use of coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
As the company does not pay a dividend to shareholders, growth and capital appreciation remain the primary potential benefits for investors. The next earnings date is set for July 30, 2024, which will likely provide further clarity on the company's trajectory and financial performance.
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