StockNews.com Downgrades Criteo (NASDAQ:CRTO) to Hold

Criteo (NASDAQ:CRTO) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company reduced their price objective on shares of Criteo from $66.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday. Susquehanna cut their target price on Criteo from $50.00 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Benchmark reiterated a “buy” rating and set a $51.00 price target on shares of Criteo in a research report on Tuesday, November 19th. Finally, DA Davidson lowered their price target on Criteo from $58.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Criteo has an average rating of “Moderate Buy” and an average price target of $49.89.

Criteo Price Performance

CRTO stock traded up $0.23 during mid-day trading on Friday, reaching $37.71. The company had a trading volume of 329,268 shares, compared to its average volume of 388,333. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 25.66 and a beta of 1.06. Criteo has a 52 week low of $23.90 and a 52 week high of $49.93. The stock has a 50 day simple moving average of $40.09 and a two-hundred day simple moving average of $41.67.

Insider Activity

In related news, CFO Sarah Js Glickman sold 1,520 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $40.36, for a total value of $61,347.20. Following the sale, the chief financial officer now owns 311,878 shares in the company, valued at $12,587,396.08. This represents a 0.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Megan Clarken sold 9,284 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $40.36, for a total value of $374,702.24. Following the sale, the chief executive officer now directly owns 509,145 shares of the company’s stock, valued at $20,549,092.20. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,765 shares of company stock worth $1,009,013. Company insiders own 1.71% of the company’s stock.

Hedge Funds Weigh In On Criteo

Several large investors have recently bought and sold shares of CRTO. Whale Rock Capital Management LLC boosted its stake in shares of Criteo by 230.1% in the 3rd quarter. Whale Rock Capital Management LLC now owns 2,519,864 shares of the information services provider’s stock worth $101,399,000 after buying an additional 1,756,507 shares during the last quarter. Congress Asset Management Co. bought a new position in Criteo in the 3rd quarter valued at $48,653,000. Lord Abbett & CO. LLC increased its position in shares of Criteo by 42.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,853,068 shares of the information services provider’s stock valued at $74,567,000 after purchasing an additional 547,718 shares during the last quarter. Senvest Management LLC grew its position in Criteo by 19.6% during the third quarter. Senvest Management LLC now owns 2,895,784 shares of the information services provider’s stock valued at $116,526,000 after buying an additional 475,530 shares during the period. Finally, Clearbridge Investments LLC purchased a new stake in Criteo during the second quarter worth about $11,059,000. 94.27% of the stock is currently owned by institutional investors.

Criteo Company 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.