Criteo (NASDAQ:CRTO) Hits New 52-Week Low Following Insider Selling

Key Points

• Criteo's stock reached a new 52-week low of $22.43, following significant insider selling by Brian Gleason, who sold 2,842 shares at an average price of $22.85.
• Analyst price targets for Criteo have been significantly lowered, with DA Davidson setting a new target of $42 from $57, while JPMorgan reduced theirs from $39 to $27.
• The company reported earnings of $0.92 per share, exceeding estimates of $0.70, with revenue of $292 million, marking a 2.5% increase from the previous year.

Criteo S.A. (NASDAQ:CRTO - Get Free Report)'s share price reached a new 52-week low on Thursday following insider selling activity. The stock traded as low as $22.43 and last traded at $22.97, with a volume of 1085140 shares trading hands. The stock had previously closed at $22.81.

Specifically, insider Brian Gleason sold 2,842 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $22.85, for a total transaction of $64,939.70. Following the completion of the transaction, the insider owned 152,122 shares in the company, valued at $3,475,987.70. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Wall Street Analyst Weigh In

CRTO has been the subject of a number of research reports. Susquehanna dropped their price target on Criteo from $50.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley lowered their target price on Criteo from $40.00 to $36.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Benchmark reduced their price target on shares of Criteo from $46.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, July 22nd. Wells Fargo & Company decreased their price target on shares of Criteo from $54.00 to $40.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 29th. Finally, BMO Capital Markets increased their price objective on shares of Criteo from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.00.

Criteo Price Performance

The business has a 50-day moving average of $24.40 and a 200-day moving average of $31.39. The company has a market capitalization of $1.36 billion, a P/E ratio of 9.83 and a beta of 0.43.

Criteo (NASDAQ:CRTO - Get Free Report) last released its earnings results on Wednesday, July 30th. The information services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.22. Criteo had a net margin of 7.10% and a return on equity of 17.06%. The firm had revenue of $292.00 million during the quarter, compared to analyst estimates of $274.62 million. During the same quarter last year, the business earned $1.08 EPS. The business's revenue was up 2.5% on a year-over-year basis. Sell-side analysts predict that Criteo S.A. will post 3.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Senvest Management LLC boosted its holdings in Criteo by 25.7% during the 4th quarter. Senvest Management LLC now owns 3,639,479 shares of the information services provider's stock valued at $143,978,000 after acquiring an additional 743,695 shares during the period. Cadian Capital Management LP increased its stake in Criteo by 38.2% in the fourth quarter. Cadian Capital Management LP now owns 2,584,333 shares of the information services provider's stock worth $102,236,000 after purchasing an additional 713,785 shares during the period. Alliancebernstein L.P. increased its stake in Criteo by 14.0% in the first quarter. Alliancebernstein L.P. now owns 4,329,854 shares of the information services provider's stock worth $153,320,000 after purchasing an additional 532,879 shares during the period. ANTIPODES PARTNERS Ltd lifted its position in shares of Criteo by 45.9% during the first quarter. ANTIPODES PARTNERS Ltd now owns 1,451,188 shares of the information services provider's stock worth $51,391,000 after purchasing an additional 456,633 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of Criteo by 7.0% during the fourth quarter. Neuberger Berman Group LLC now owns 6,075,995 shares of the information services provider's stock worth $240,322,000 after purchasing an additional 399,977 shares during the last quarter. Hedge funds and other institutional investors own 94.27% of the company's stock.

About Criteo

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.