Criteo (NASDAQ:CRTO) Shares Gap Down Following Insider Selling

Criteo S.A. (NASDAQ:CRTO) shares gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $42.66, but opened at $36.29. Criteo shares last traded at $34.61, with a volume of 82,200 shares.

Specifically, insider Brian Gleason sold 2,841 shares of Criteo stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $41.10, for a total value of $116,765.10. Following the completion of the sale, the insider now directly owns 146,470 shares in the company, valued at $6,019,917. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian Gleason sold 2,926 shares of Criteo stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $44.14, for a total value of $129,153.64. Following the completion of the sale, the insider now owns 149,311 shares of the company’s stock, valued at $6,590,587.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CFO Sarah Js Glickman sold 5,442 shares of Criteo stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $40.60, for a total value of $220,945.20. Following the completion of the sale, the chief financial officer now directly owns 313,398 shares in the company, valued at $12,723,958.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. BMO Capital Markets lifted their price objective on Criteo from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Benchmark reiterated a “buy” rating and issued a $56.00 target price on shares of Criteo in a report on Thursday, October 10th. Morgan Stanley upped their price objective on shares of Criteo from $35.00 to $39.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price objective on shares of Criteo from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, DA Davidson cut their price objective on shares of Criteo from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.22.

Criteo Stock Up 0.3 %

The stock has a market cap of $1.89 billion, a PE ratio of 22.91 and a beta of 0.99. The stock has a 50-day moving average of $42.60 and a 200 day moving average of $40.71.

Criteo (NASDAQ:CRTO) last announced its earnings results on Thursday, August 1st. The information services provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.31. Criteo had a return on equity of 15.56% and a net margin of 4.52%. The business had revenue of $471.31 million during the quarter, compared to the consensus estimate of $263.64 million. During the same period in the prior year, the company posted $0.12 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. On average, equities analysts anticipate that Criteo S.A. will post 2.8 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CRTO. Congress Asset Management Co. acquired a new position in Criteo in the 3rd quarter valued at $48,653,000. Clearbridge Investments LLC acquired a new position in Criteo in the 2nd quarter valued at $11,059,000. Robeco Institutional Asset Management B.V. raised its stake in Criteo by 518.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 81,001 shares of the information services provider’s stock valued at $3,259,000 after purchasing an additional 67,913 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in Criteo by 93.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 107,553 shares of the information services provider’s stock valued at $4,057,000 after purchasing an additional 51,870 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its stake in Criteo by 523.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 59,199 shares of the information services provider’s stock valued at $2,233,000 after purchasing an additional 49,699 shares during the last quarter. 94.27% of the stock is owned by institutional investors and hedge funds.

Criteo Company Profile

Criteo SA, a technology company, provides marketing and monetization services on the open Internet in North and South America, Europe, the Middle East, Africa, and the Asia-Pacific. The company's Criteo Shopper Graph, which derives clients' proprietary commerce data, such as transaction activity on their digital properties.