Lord Abbett & CO. LLC Lowers Position in Criteo S.A. $CRTO

Key Points

• Lord Abbett & CO. LLC decreased its ownership in Criteo S.A. by 1.4%, holding approximately 1,078,318 shares valued at $38.18 million, as reported in its latest SEC filing.
• Insider Brian Gleason sold 2,842 shares of Criteo at an average price of $22.85, leading to a 1.83% reduction in his ownership of the stock.
• Criteo's stock rose 1.6% and has a market cap of $1.40 billion, with analysts expecting an EPS of 3.09 for the current fiscal year.

Lord Abbett & CO. LLC cut its position in shares of Criteo S.A. (NASDAQ:CRTO - Free Report) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,078,318 shares of the information services provider's stock after selling 14,912 shares during the quarter. Lord Abbett & CO. LLC owned about 2.01% of Criteo worth $38,183,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Cadian Capital Management LP boosted its holdings in shares of Criteo by 38.2% during the 4th quarter. Cadian Capital Management LP now owns 2,584,333 shares of the information services provider's stock valued at $102,236,000 after buying an additional 713,785 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its stake 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 acquiring an additional 456,633 shares in the last quarter. Two Sigma Advisers LP lifted its position in Criteo by 102.7% during the 4th quarter. Two Sigma Advisers LP now owns 564,000 shares of the information services provider's stock valued at $22,312,000 after acquiring an additional 285,800 shares during the period. Congress Asset Management Co. boosted its stake in Criteo by 25.4% during the first quarter. Congress Asset Management Co. now owns 1,410,564 shares of the information services provider's stock worth $49,948,000 after acquiring an additional 285,285 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Criteo by 94.3% in the fourth quarter. Marshall Wace LLP now owns 579,606 shares of the information services provider's stock worth $22,929,000 after purchasing an additional 281,355 shares during the period. 94.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CRTO shares. Morgan Stanley dropped their price target on Criteo from $40.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price objective on Criteo from $39.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. DA Davidson reduced their price objective on Criteo from $42.00 to $38.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. BMO Capital Markets raised their price objective on Criteo from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Wells Fargo & Company reduced their price objective on Criteo from $54.00 to $40.00 and set an "overweight" rating for the company in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.

Criteo Stock Performance

Shares of NASDAQ CRTO traded down $0.15 during midday trading on Monday, hitting $23.60. 213,636 shares of the stock traded hands, compared to its average volume of 450,144. Criteo S.A. has a one year low of $22.43 and a one year high of $49.93. The firm has a market capitalization of $1.37 billion, a P/E ratio of 9.87 and a beta of 0.43. The firm has a 50-day moving average of $23.92 and a two-hundred day moving average of $30.26.

Criteo (NASDAQ:CRTO - Get Free Report) last announced 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 return on equity of 16.91% and a net margin of 7.10%. The business had revenue of $292.00 million for the quarter, compared to analysts' expectations of $274.62 million. During the same period last year, the firm posted $1.08 earnings per share. The business's revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts forecast that Criteo S.A. will post 3.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ryan Damon sold 2,132 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $25.81, for a total transaction of $55,026.92. Following the completion of the sale, the insider directly owned 132,002 shares in the company, valued at approximately $3,406,971.62. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sarah Js Glickman sold 2,465 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $25.81, for a total transaction of $63,621.65. Following the sale, the chief financial officer owned 362,710 shares of the company's stock, valued at $9,361,545.10. This trade represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,708 shares of company stock valued at $320,444. 1.66% of the stock is owned by insiders.

Criteo 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.