Criteo S.A. (NASDAQ:CRTO) Chief Legal Officer, Damon Ryan, has recently sold a portion of his company shares, according to the latest regulatory filings. The transaction, which took place on August 26, involved the sale of 2,912 ordinary shares at a price of $49.17 each, totaling over $143,000.
The sale was conducted automatically to fund tax withholding obligations related to a previously reported security award, as noted in the footnotes of the filing. This is a common practice where executives automatically sell shares to cover taxes associated with the vesting of equity awards.
Following the transaction, Ryan still holds a substantial number of shares in the company, with 128,609 ordinary shares remaining in his possession. Investors often keep an eye on insider transactions like these for insights into executive confidence in the company's prospects.
Criteo S.A., headquartered in Paris, is known for its services in the advertising industry, providing a platform for companies to engage and convert online shoppers. The company's stock is traded on the NASDAQ exchange, where investors can follow its performance under the ticker symbol CRTO.
For those interested in the details of Ryan's equity in Criteo, further information can be found in the company's most recent definitive proxy statement filed with the Securities and Exchange Commission.
In other recent news, Criteo S.A. reported a strong Q2 with revenue of $471 million and adjusted EBITDA of $93 million, marking the third consecutive quarter of double-digit organic growth. Amidst these developments, CEO Megan Clarken announced an unexpected retirement within the next year, with the company and executive search firm Heidrick & Struggles actively seeking a successor. Analysts have responded positively to these developments. DA Davidson upgraded Criteo's stock to 'Buy' from 'Neutral', setting a new price target of $58.00, while BMO Capital Markets retained its 'Outperform' rating, increasing its price target to $55.00. Both firms expressed confidence in the company's future prospects. The search for Clarken's successor is ongoing, with the timeline for the new CEO's appointment remaining uncertain. This is an overview of recent developments without any conclusion or summary.
InvestingPro Insights
As investors consider the implications of insider transactions at Criteo S.A. (NASDAQ:CRTO), it's valuable to look at the company's financial health and market performance. Recent data from InvestingPro shows that Criteo holds a market capitalization of approximately $2.78 billion, reflecting its standing in the competitive advertising industry. The company's Price-to-Earnings (P/E) ratio, a measure of its current share price relative to its per-share earnings, stands at 26.33, which aligns with industry standards and investor expectations for growth.
Criteo's financial stability is further underscored by its management's strategic moves, as noted in one of the InvestingPro Tips, highlighting that the company has been aggressively buying back shares. This could signal confidence from management in the company's valuation and future prospects. Additionally, Criteo's balance sheet strength is evident, holding more cash than debt, which positions it well for investment and operational flexibility.
Looking at the company's performance metrics, Criteo has demonstrated a gross profit margin of 47.62% over the last twelve months as of Q2 2024, indicating a robust ability to retain earnings after the cost of goods sold is accounted for. Moreover, the company's return on assets is 4.9%, which provides insights into how effectively the company is using its assets to generate earnings.
For investors seeking a deeper dive into Criteo's performance and additional InvestingPro Tips, the platform offers a comprehensive analysis, including 15 more tips that could further inform investment decisions. These tips and real-time metrics are available at InvestingPro's dedicated Criteo page (https://www.investing.com/pro/CRTO).
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