The mixed cluster suggests no strong directional consensus post-earnings. Watch for further 13F filings from larger holders (American Century, Robeco) to see if the selling broadens. The absence of insider buying alongside the guidance cut argues against a near-term recovery thesis — treat the buying as value-trap risk rather than a catalyst signal.
Executive Summary
A mixed institutional cluster in CRTO for Q2 2026 shows 6 buyers accumulating $3.2M net (led by Fidelity and BlackRock) against 4 sellers reducing $1.6M, with the largest seller King Luther Capital trimming $1.2M. This activity follows Criteo's Q2 earnings report 9 days prior, which revealed an 11% YoY revenue decline, a 13% EPS drop, and significantly lowered full-year guidance — a bearish backdrop that likely drove the selling while the buying may reflect value-oriented positioning on a beaten-down stock. The cluster's mixed nature and the absence of insider buying (confluence score 17/100) suggest institutional conviction is split, with no clear consensus thesis emerging from the data alone.
Key Financial Metrics
Institutional Positions
Net institutional flow: $1.6M
▲ Buyers (6)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Fidelity | DOUBLED | +123.6% | $3.6M | $2.0M |
| BlackRock | ADD | +36.2% | $3.8M | $1.1M |
| Mml Investors Services | ADD | +42.7% | $280.0K | $87.0K |
▼ Sellers (4)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| King Luther Capital Management | TRIM | -34.3% | $3.7M | -$1.2M |
| Mercer Global Advisors Inc /Adv | TRIM | -65.3% | $371.0K | -$239.7K |
| Russell Investments Group | NEAR_EXIT | -92.6% | $125.0K | -$115.4K |
Key Facts
- 6 institutional buyers added $3.2M net in Q2 2026, led by Fidelity (doubled to $3.6M) and BlackRock (added to $3.8M)
- 4 institutional sellers reduced $1.6M, led by King Luther Capital (trimmed $1.2M, now $2.4M) and Russell Investments (near-exit, down 93%)
- Cluster follows Q2 2026 earnings: revenue -11% YoY to $428M, adjusted EPS -13% to $0.80, FY guidance cut to -12% to -10% Contribution ex-TAC decline
- No open-market insider buying corroborates the institutional buying (confluence score 17/100, divergent)
- Top holders American Century ($28M) and Robeco ($10M) not in this cluster; BlackRock added modestly
Financial Impact
6 buyers added $3.2M in new positions while 4 sellers reduced $1.6M, net institutional inflow of ~$1.6M
Risk Factors
- Revenue declining 11% YoY with guidance cut to -12% to -10% suggests structural headwinds in ad-tech
- CFO transition effective Aug 10 adds execution risk during a downturn
- No insider buying to corroborate institutional accumulation — cluster may be passive rebalancing or value traps
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-CRTO-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 7w ago | Institutional Cluster | $17.82 $17.09 | ▼ −4.10% | ▼ −2.12% | — |
Aug 12, 2026 7w ago | Press Release | $18.21 $17.44 | ▲ +4.23% | ▲ +2.48% | — |
Aug 7, 2026 8w ago | Insider Cluster | $18.38 $17.62 | ▼ −4.13% | ▼ −3.74% | — |
Aug 7, 2026 8w ago | Insider Cluster | $18.38 $17.62 | ▲ +4.13% | ▲ +3.74% | — |
Aug 5, 2026 8w ago | 8-K | $17.05 $18.30 | ▼ −7.33% | ▼ −7.93% | — |
Jun 2, 2026 17w ago | Insider Cluster | $17.15 $19.08 | ▲ +11.25% | ▲ +12.25% | — |
May 8, 2026 21w ago | DEFA14A | $16.49 $17.73 | ▲ +7.52% | ▲ +7.50% | — |
May 8, 2026 21w ago | DEFA14A | $16.49 $17.73 | ▲ +7.52% | ▲ +7.50% | — |
May 8, 2026 21w ago | DEFA14A | $16.49 $17.73 | ▲ +7.52% | ▲ +7.50% | — |
Feb 27, 2026 31w ago | 8-K | $17.87 $17.18 | ▼ −3.86% | ▲ +3.69% | — |
US Market Status
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