Cardlytics, Inc. (NASDAQ:CDLX) Chief Legal & Privacy Officer Nicholas Hollmeyer sold shares of the company stock valued at $170,619, according to a recent Form 4 filing with the Securities and Exchange Commission. The transactions occurred on April 2, 2024, involving sales of common stock at prices ranging from $13.69 to $14.41.
The filing detailed that Hollmeyer sold a total of 12,401 shares at an average price of $13.69 and an additional 59 shares at an average price of $14.41. The sales were executed in multiple transactions within the given price ranges. It was noted that the shares were sold solely to satisfy withholding tax obligations arising from the vesting of restricted stock units (RSUs) on April 1, 2024. Hollmeyer did not sell shares for any other purpose.
On the same day prior to the sale, Hollmeyer also acquired shares through the vesting of RSUs. These transactions included 15,578 shares of common stock with a transaction value of $0, as the RSUs represent a contingent right to receive shares of common stock. The vesting of these RSUs was part of a scheduled plan where a portion of the award vests quarterly over a period, provided continuous service to the issuer.
Following the transactions, Hollmeyer's ownership in Cardlytics common stock changed, but he still maintains a significant stake in the company with 71,355 shares held after the sales.
Investors and followers of Cardlytics, Inc. often monitor insider transactions as they provide insights into the company's performance and executives' perspectives on the stock's value. The recent sales by Hollmeyer, tied to tax obligations, are a routine part of compensation and stock ownership for company executives.
InvestingPro Insights
Cardlytics, Inc. (NASDAQ:CDLX) has shown a notable performance with a strong return over the last year. The company's market capitalization stands at 655.43 million USD, reflecting its valuation in the market. Despite not being profitable over the last twelve months, analysts are optimistic, predicting that the company will turn a profit this year. This anticipation of profitability could be a factor influencing executive decisions and insider transactions.
InvestingPro data highlights that Cardlytics has been trading at a high Price / Book multiple of 4.86 as of the last twelve months ending Q4 2023. Additionally, the company's revenue grew by 3.57% during the same period, with a quarterly revenue growth of 8.08% in Q4 2023. These growth metrics may provide some context to the insider trading activity, as executives often have a unique perspective on the company's financial trajectory.
For those looking to delve deeper into Cardlytics' performance and insider moves, there are additional InvestingPro Tips available. For example, the company operates with a moderate level of debt and its liquid assets exceed short-term obligations, which could be reassuring for investors concerned about the company's financial health. Moreover, there are 9 more InvestingPro Tips available for Cardlytics, which can be accessed to gain more nuanced insights into the company's financial standing and future outlook.
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