Criteo chief legal officer Damon Ryan sells shares worth $1.56 million

Damon Ryan, the Chief Legal Officer of Criteo S.A. (NASDAQ:CRTO), a $2.4 billion market cap advertising technology company with a perfect Piotroski Score of 9 according to InvestingPro, recently executed a series of stock sales, according to a Form 4 filing with the Securities and Exchange Commission. On February 25 and 26, Ryan sold a total of 38,917 ordinary shares of Criteo, generating approximately $1.56 million.

The transactions, carried out under a Rule 10b5-1 trading plan, included two distinct sales. The first sale on February 25 involved 15,931 shares sold at prices ranging from $40.11 to $40.30, totaling $641,705. The second transaction on February 26 saw the sale of 22,986 shares at a price of $40.01, amounting to $919,669. These sales occurred as the company maintains strong financial health, with more cash than debt on its balance sheet and liquid assets exceeding short-term obligations.

Following these transactions, Ryan holds 76,729 shares of Criteo. The sales were part of a pre-established trading plan designed to manage tax obligations related to previously awarded securities. For comprehensive insider trading analysis and additional financial metrics, investors can access the detailed Pro Research Report available on InvestingPro.

In other recent news, Criteo S.A. reported impressive fourth-quarter results for 2024, exceeding market expectations with a 2% increase in Contribution ex-TAC and a 22% higher adjusted EBITDA than anticipated. Following these results, BMO Capital Markets raised its price target for Criteo shares to $60 and maintained an Outperform rating. Additionally, DA Davidson and Benchmark both reiterated their Buy ratings with price targets of $53 and $51, respectively, despite making slight adjustments to their financial estimates due to currency exchange challenges.

Criteo has also announced the appointment of Michael Komasinski as the new Chief Executive Officer, effective February 15, 2025, succeeding Megan Clarken. The Board of Directors expressed confidence in Komasinski’s ability to enhance the company’s position in the commerce and retail media sectors, given his extensive experience in AdTech and product development. Analysts from Stifel noted that Komasinski’s appointment removes uncertainty and is seen as a positive development for the company. As Criteo prepares to release its fourth-quarter earnings and provide guidance for 2025, stakeholders are keenly observing the new leadership’s influence on the company’s growth trajectory.

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