Royce & Associates LP Sells 48,590 Shares of Criteo S.A. (NASDAQ:CRTO)

Key Points

• Royce & Associates LP has reduced its stake in Criteo S.A. by 13.8%, now holding approximately 0.53% of the company valued at about $10.8 million.
• Insider sales have occurred recently, with two insiders collectively selling over 12,000 shares of Criteo stock in the past quarter.
• Despite mixed analyst ratings, Criteo has an average target price of $45.30, with a recent EPS of $1.10 exceeding analyst expectations.

Royce & Associates LP decreased its holdings in Criteo S.A. (NASDAQ:CRTO - Free Report) by 13.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 304,623 shares of the information services provider's stock after selling 48,590 shares during the period. Royce & Associates LP owned 0.53% of Criteo worth $10,787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRTO. Alliancebernstein L.P. boosted its position in Criteo by 38.3% during the 4th quarter. Alliancebernstein L.P. now owns 3,796,975 shares of the information services provider's stock valued at $150,208,000 after acquiring an additional 1,052,126 shares in the last quarter. Senvest Management LLC boosted its position in shares of Criteo by 25.7% in the 4th quarter. Senvest Management LLC now owns 3,639,479 shares of the information services provider's stock worth $143,978,000 after purchasing an additional 743,695 shares in the last quarter. Cadian Capital Management LP boosted its position in shares of Criteo by 38.2% in the 4th 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 in the last quarter. Schroder Investment Management Group boosted its position in shares of Criteo by 4,200.9% in the 4th quarter. Schroder Investment Management Group now owns 572,790 shares of the information services provider's stock worth $22,493,000 after purchasing an additional 559,472 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd boosted its position in shares of Criteo by 45.9% in the 1st 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 in the last quarter. 94.27% of the stock is owned by institutional investors.

Criteo Price Performance

Shares of NASDAQ:CRTO traded down $0.50 during trading on Monday, reaching $22.79. 272,875 shares of the company's stock traded hands, compared to its average volume of 437,435. The company has a 50 day moving average of $24.77 and a 200-day moving average of $31.84. The stock has a market capitalization of $1.32 billion, a P/E ratio of 9.27 and a beta of 0.48. Criteo S.A. has a 12 month low of $22.55 and a 12 month high of $49.93.

Criteo (NASDAQ:CRTO - Get Free Report) last released its earnings results on Friday, May 2nd. The information services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $0.77 by $0.33. Criteo had a net margin of 7.41% and a return on equity of 18.21%. The business had revenue of $451.43 million during the quarter, compared to analyst estimates of $259.86 million. During the same period in the prior year, the business earned $0.80 earnings per share. The business's quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts predict that Criteo S.A. will post 3.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRTO. Wells Fargo & Company reduced their target price on Criteo from $68.00 to $66.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. BMO Capital Markets cut their price target on Criteo from $60.00 to $49.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Benchmark cut their price target on Criteo from $46.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. cut their price target on Criteo from $39.00 to $27.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Finally, DA Davidson cut their price target on Criteo from $57.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $45.30.

Insider Buying and Selling

In related news, insider Brian Gleason sold 2,486 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $25.81, for a total transaction of $64,163.66. Following the completion of the sale, the insider owned 154,964 shares in the company, valued at $3,999,620.84. This trade represents a 1.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sarah Js Glickman sold 1,520 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $26.12, for a total transaction of $39,702.40. Following the sale, the chief financial officer directly owned 361,190 shares in the company, valued at approximately $9,434,282.80. This represents a 0.42% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,866 shares of company stock valued at $255,504. Company insiders own 1.66% 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.