ATLANTA—Cardlytics, Inc. (NASDAQ:CDLX) Chief Financial Officer Alexis DeSieno recently reported the sale of company stock, according to a filing with the Securities and Exchange Commission. The transaction, disclosed on November 15, involved the sale of 25,118 shares of Cardlytics common stock at an average price of $3.43 per share, totaling $86,154.
The shares were sold to cover withholding tax obligations resulting from the vesting of restricted stock units (RSUs). These RSUs, which vested on November 15, 2024, were part of an award initially granted for 350,000 shares. The sale did not serve any other purpose, as noted in the filing.
Following these transactions, DeSieno holds 116,481 shares of Cardlytics common stock.
In other recent news, Cardlytics' third-quarter financial results for 2024 highlighted the company's growth strategies and expectations for the remaining quarter. Cardlytics anticipates improved financial performance in Q4 2024, propelled by new partnerships with financial institutions and enhancements to its operational and product initiatives. These plans, however, are forward-looking and subject to various risks that could potentially impact the actual outcomes. Despite this, the company remains optimistic about its financial performance for the upcoming quarter. These recent developments underscore Cardlytics' focus on expansion and improvement, while also acknowledging the inherent risk factors. For more detailed financial information, interested parties can refer to the company's press release and SEC filings.
InvestingPro Insights
The recent stock sale by Cardlytics' CFO Alexis DeSieno comes at a challenging time for the company. According to InvestingPro data, Cardlytics has experienced a significant stock price decline, with a 57.22% drop over the past year and a steep 63.97% fall in the last six months. This aligns with an InvestingPro Tip indicating that the stock has taken a big hit over the last week and six months.
The company's financial health appears to be under pressure. With a market capitalization of $172.8 million and a negative P/E ratio of -2.02 for the last twelve months as of Q3 2023, Cardlytics is currently not profitable. This is further supported by an InvestingPro Tip stating that analysts do not anticipate the company will be profitable this year.
Despite these challenges, it's worth noting that Cardlytics' liquid assets exceed its short-term obligations, which could provide some financial flexibility. However, the company operates with a significant debt burden, as highlighted by another InvestingPro Tip.
For investors seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for Cardlytics, which could provide valuable insights into the company's prospects and challenges.
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