Criteo (NASDAQ:CRTO) Shares Down 4.3% – Here’s What Happened

Shares of Criteo S.A. (NASDAQ:CRTO) fell 4.3% on Tuesday. The company traded as low as $14.22 and last traded at $14.2450. Approximately 58,440 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 422,924 shares. The stock had previously closed at $14.88.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CRTO shares. Benchmark reduced their price objective on shares of Criteo from $25.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Citigroup reiterated a “buy” rating on shares of Criteo in a research note on Friday, August 14th. BMO Capital Markets set a $20.00 price objective on Criteo in a research note on Thursday, August 6th. Sanford C. Bernstein cut Criteo from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $35.00 to $20.50 in a research report on Thursday, August 6th. Finally, Morgan Stanley decreased their target price on Criteo from $29.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, August 6th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.35.

Criteo Stock Performance

The firm has a market cap of $691.14 million, a P/E ratio of 7.16 and a beta of 0.29. The company has a 50-day moving average of $16.39 and a 200 day moving average of $18.23.

Criteo (NASDAQ:CRTO) last released its quarterly earnings results on Wednesday, August 5th. The information services provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.09. The firm had revenue of $428.02 million for the quarter, compared to analyst estimates of $263.40 million. Criteo had a net margin of 5.60% and a return on equity of 14.33%. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 earnings per share. Sell-side analysts anticipate that Criteo S.A. will post 2.58 EPS for the current fiscal year.

Insider Transactions at Criteo

In other news, insider Ryan Damon sold 6,178 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $17.23, for a total value of $106,446.94. Following the transaction, the insider owned 167,765 shares of the company’s stock, valued at $2,890,590.95. This represents a 3.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Komasinski sold 1,656 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $17.28, for a total value of $28,615.68. Following the transaction, the chief executive officer owned 343,891 shares in the company, valued at approximately $5,942,436.48. This trade represents a 0.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 30,725 shares of company stock worth $529,527 over the last 90 days. 1.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Criteo

Several institutional investors have recently modified their holdings of the business. Sei Investments Co. raised its holdings in shares of Criteo by 47.2% in the 1st quarter. Sei Investments Co. now owns 246,026 shares of the information services provider’s stock valued at $4,411,000 after purchasing an additional 78,834 shares during the period. Janus Henderson Group PLC lifted its stake in Criteo by 4.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,769,644 shares of the information services provider’s stock valued at $31,774,000 after purchasing an additional 77,145 shares during the last quarter. Senvest Management LLC grew its holdings in Criteo by 4.5% during the first quarter. Senvest Management LLC now owns 4,597,322 shares of the information services provider’s stock worth $82,430,000 after purchasing an additional 200,000 shares during the period. Waterfront Wealth Inc. grew its holdings in Criteo by 47.4% during the first quarter. Waterfront Wealth Inc. now owns 208,923 shares of the information services provider’s stock worth $3,746,000 after purchasing an additional 67,157 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Criteo by 10.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 975,109 shares of the information services provider’s stock worth $17,484,000 after purchasing an additional 94,389 shares during the period. Institutional investors own 94.27% of the company’s stock.

About Criteo

Criteo SA (NASDAQ: CRTO) is a global commerce media and advertising technology company headquartered in Paris, France. The company helps brands, retailers and other businesses use commerce data and artificial intelligence to reach consumers, build customer relationships and measure advertising performance across digital channels.

Criteo’s offerings include retail media solutions, which enable retailers and marketplace operators to provide sponsored product listings and other advertising placements, as well as performance media tools for campaigns across websites, mobile applications and the open internet.