Pictet Asset Management Ltd. Cuts Stake in Criteo S.A. (NASDAQ:CRTO)
Pictet Asset Management Ltd. decreased its position in Criteo S.A. (NASDAQ:CRTO) by 26.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 318,984 shares of the information services provider’s stock after selling 116,467 shares during the period. Pictet Asset Management Ltd.’s holdings in Criteo were worth $16,724,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in CRTO. Fifth Third Bancorp bought a new position in shares of Criteo during the first quarter worth about $176,000. Hussman Strategic Advisors Inc. bought a new position in shares of Criteo during the first quarter worth about $200,000. Janney Capital Management LLC bought a new position in shares of Criteo during the first quarter worth about $216,000. Pictet & Cie Europe SA bought a new position in shares of Criteo during the first quarter worth about $221,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Criteo during the first quarter worth about $230,000. Institutional investors own 85.03% of the company’s stock.
Shares of Criteo S.A. (NASDAQ:CRTO) opened at 49.00 on Friday. Criteo S.A. has a 1-year low of $32.83 and a 1-year high of $56.00.
Criteo (NASDAQ:CRTO) last posted its earnings results on Wednesday, August 2nd. The information services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. Criteo had a net margin of 3.48% and a return on equity of 13.94%. The business had revenue of $220 million for the quarter, compared to the consensus estimate of $212.55 million. During the same period last year, the company earned $0.33 EPS. The firm’s revenue was up 32.5% compared to the same quarter last year. Equities research analysts predict that Criteo S.A. will post $2.43 EPS for the current year.
A number of equities analysts have recently issued reports on the stock. Deutsche Bank AG upped their target price on shares of Criteo from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. KeyCorp assumed coverage on shares of Criteo in a research report on Monday, July 31st. They set an “overweight” rating and a $62.00 target price on the stock. Stifel Nicolaus set a $50.00 target price on shares of Criteo and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Cowen and Company reiterated an “outperform” rating and set a $61.00 target price (up from $60.00) on shares of Criteo in a research report on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Criteo from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $55.98.
In related news, Director James Warner sold 1,250 shares of Criteo stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $46.98, for a total transaction of $58,725.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eric Eichmann sold 20,000 shares of Criteo stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $49.04, for a total transaction of $980,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 672,453 shares of company stock worth $34,102,134. 5.60% of the stock is owned by corporate insiders.
Criteo Company Profile
Criteo SA is a France-based company specializing in digital performance marketing. Its solution consists of the Criteo Engine, the Company’s data assets, access to inventory, and its advertiser and publisher platforms. The Criteo Engine consists of various machine learning algorithms, such as prediction, recommendation, bidding and creative algorithms and the global hardware and software infrastructure.
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