Damon Ryan, the Chief Legal Officer of Criteo S.A. (NASDAQ:CRTO), recently sold 2,793 ordinary shares of the company. The shares were sold at an average price of $42.54, amounting to a total transaction value of $118,814. The $2.3 billion digital advertising company has shown impressive momentum, with its stock surging over 68% year-to-date. According to InvestingPro analysis, the company maintains a "GREAT" financial health score. This transaction was conducted as part of a Rule 10b5-1 trading plan, which allows company insiders to sell a predetermined number of shares at a predetermined time. Following this sale, Ryan holds 115,646 shares in the company. The transaction was completed on December 13, 2024, according to the SEC filing. Notably, while this represents an insider sale, InvestingPro data shows management has been actively buying back shares, demonstrating confidence in the company's future. Get access to 12 more exclusive InvestingPro Tips and comprehensive analysis for Criteo.
In other recent news, Criteo S.A. has seen significant developments in its financial performance and leadership changes. The company reported strong Q3 2024 results, with revenues reaching $459 million and a 9% year-over-year growth in Contribution ex-TAC at constant currency. Retail Media revenue increased by 23%, hitting $61 million, while Performance Media grew by 5%. Criteo also doubled its brand count to 3,100 and activated media spend to $1.5 billion over the past two years.
CEO Megan Clarken announced her upcoming retirement, yet remains confident in the company's growth strategy, which includes AI-driven performance and expanding partnerships. Despite a 16% decline in Criteo's AdTech services due to reliance on one client, the company projects a 10%-11% growth in Contribution ex-TAC for 2024, with an adjusted EBITDA margin projected at 32%-33%.
In terms of analyst ratings, KeyBanc maintained its Sector Weight rating on Criteo, while BMO Capital Markets and DA Davidson reaffirmed their Outperform and Buy ratings respectively. However, all three firms adjusted their price targets for Criteo due to various factors including slightly underperformance and lower than expected revenues. These recent developments highlight Criteo's ongoing growth and potential in the digital advertising space.
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