Clifford Sosin, a major holder at Cardlytics (CDLX), recently bought 159,090 shares. The buy increased his stake by just over 3 percent, and came to a total purchase price of just over $10.5 million.
Over the past three years, there has been a mix of insider buys and sales. However, company executives have tended to be big sellers of their holdings, even before shares slid off their multi-year highs in the past few months.
Overall, insiders own 2.7 percent of the company.
Besides shares of the banking digital notification company declining nearly 59 percent in the past year, the company has been deeply unprofitable, even as revenue has grown by 41 percent in the past year.
Action to take: The company has an interesting niche, and it if can move back to profitability, it could make for some great returns relative to the overall market. For the time being, with shares in a downtrend, trader may want to look elsewhere.
For traders, the stock is in a clear downtrend with no signs of letting up soon. That could mean further weakness in the months ahead. The July 2022 $40 puts, last going for about $3.65, offer some upside on a further drop in shares without being too expensive. Traders should look to grab quick mid-to-high double-digit profits on a further decline in the coming weeks.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.