Criteo S.A. (NASDAQ:CRTO), a leader in the advertising technology sector, reported a significant transaction by one of its top executives. The company's Chief Legal Officer, Damon Ryan, has sold a total of 946 ordinary shares at a price of $38.99 per share, amounting to over $36,884 in total value.
The transaction, which took place on May 24, 2024, was executed automatically to cover tax withholding obligations related to a previously-reported security award, as per the footnotes in the filing. Following the sale, Ryan still holds 153,623 shares in the company, indicating a continued vested interest in Criteo's performance.
Investors often monitor insider transactions as they can provide insights into an executive's view of the company's future prospects. It's worth noting that the ordinary shares mentioned in the transaction could be represented by American Depositary Shares, with each one representing a single ordinary share of Criteo S.A.
Criteo has not made any additional comments regarding the transaction. However, for those interested in the broader scope of Ryan's equity in the company, details can be found in Criteo's most recent definitive proxy statement filed with the Securities and Exchange Commission.
InvestingPro Insights
Criteo S.A.'s (NASDAQ:CRTO) recent insider transaction by Chief Legal Officer Damon Ryan comes at a time when the company exhibits a blend of financial stability and expected growth, according to InvestingPro metrics. The company's market capitalization stands at a robust $2.12 billion, with a Price/Earnings (P/E) ratio of 31.63, which adjusts to a more attractive 24.19 when considering the last twelve months as of Q1 2024. This adjusted P/E ratio suggests a potentially more favorable valuation for investors eyeing earnings potential.
Two InvestingPro Tips that are particularly relevant in light of this insider transaction include management's aggressive share buyback strategy and the company's strong cash position, holding more cash than debt on its balance sheet. Share buybacks can be indicative of management's confidence in the company's value, while a solid cash position provides financial flexibility and may be a reassuring factor for investors concerned about market volatility or economic downturns.
The company's financial health is further underscored by its gross profit margin of 45.98% over the last twelve months up to Q1 2024, reflecting efficient operations and a strong competitive position in the advertising technology sector. Additionally, the stock has experienced a significant price uptick of 51.48% over the past six months, and it's currently trading near its 52-week high, at 98.63% of that peak value.
For those seeking deeper insights and more InvestingPro Tips, a visit to the InvestingPro platform can provide a wealth of information. There are currently 13 additional tips available for Criteo S.A., which can be accessed at https://www.investing.com/pro/CRTO. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further analytics and data to inform your investment decisions.
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