Criteo (NASDAQ:CRTO) Stock Price Down 4.3% – Here’s Why

Shares of Criteo S.A. (NASDAQ:CRTO) were down 4.3% during trading 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.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CRTO shares. Benchmark reduced their price target on Criteo from $25.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Weiss Ratings downgraded Criteo from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, October 21st. Wells Fargo & Company cut their target price on Criteo from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Morgan Stanley cut their target price on Criteo from $29.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 6th. Finally, Wedbush reduced their target price on Criteo from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, August 20th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Criteo currently has an average rating of “Hold” and a consensus price target of $22.35.

Criteo Stock Performance

The stock’s fifty day moving average is $16.39 and its two-hundred day moving average is $18.23. The firm has a market cap of $691.14 million, a price-to-earnings ratio of 7.16 and a beta of 0.29.

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

Insider Transactions at Criteo

In other Criteo news, CFO Sarah Glickman sold 6,285 shares of Criteo stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $17.23, for a total transaction of $108,290.55. Following the transaction, the chief financial officer directly owned 424,612 shares in the company, valued at approximately $7,316,064.76. The trade was a 1.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan Damon sold 6,178 shares of Criteo stock in a transaction on Thursday, August 6th. The shares were 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 in the company, valued at $2,890,590.95. This represents a 3.55% decrease in their position. The SEC filing for this sale provides additional information. 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 valued at $529,527 in the last three months. 1.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Criteo

A number of institutional investors have recently bought and sold shares of CRTO. QRG Capital Management Inc. boosted its holdings in Criteo by 15.8% in the second quarter. QRG Capital Management Inc. now owns 54,023 shares of the information services provider’s stock worth $988,000 after purchasing an additional 7,352 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Criteo during the second quarter worth $36,000. GAMMA Investing LLC increased its position in Criteo by 61.1% during the second quarter. GAMMA Investing LLC now owns 3,465 shares of the information services provider’s stock worth $63,000 after buying an additional 1,314 shares during the last quarter. Parallel Advisors LLC raised its holdings in Criteo by 357.9% during the first quarter. Parallel Advisors LLC now owns 4,126 shares of the information services provider’s stock valued at $74,000 after buying an additional 3,225 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Criteo by 4.6% during the first quarter. Janus Henderson Group PLC now owns 1,769,644 shares of the information services provider’s stock valued at $31,774,000 after buying an additional 77,145 shares in the last quarter. Institutional investors and hedge funds own 94.27% of the company’s stock.

Criteo Company Profile

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.